Goldman Sachs Stands Up for Online Gambling Regulation
Since 1869 The Goldman Sachs Group Inc. has been giving financial advice to families, business, and even our government. Goldman Sachs as it is greater known made itself a household name over the years. It is working with America to create a way to legalize online gambling. Goldman Sachs predict that the total wealth of America’s online poker activity and in addition to the online casino market is worth about $12 billion dollars.
“We believe it is logical to assume that the US market will eventually regulate – given the potential implications for US tax take, if nothing else,” Sachs stated. “Were the market to be legalized, we believe that the size of the revenue opportunity could increase materially,” Goldman stated that the progress will be slow. It will take a while convince the parties involved and get around loop holes. The federal level is where the process will be slowed down. Florida and California will speed up things on the state level as they plan to capitalize on the extra cash generated from tax revenue. It is funny that it all it can take to speed people up is extra lining in their pockets.
Goldman Sachs is a worldwide corporation. In 2006 they had 23,467 employees. Not only giving advice to the wealthy but also providing jobs, help make the name for them that they have. $9.34 billion dollars was what Goldman Sachs raked in, in 2006. They played a key role in the presidential election. Sacks was the major contributor financially to the Obama foundation for the election. Employees for Sachs have held positions in the government such as Robert Rubin and Henry Poulson. There was no discrimination based on what party was running the White House as to which they were still employed with Goldman. It has been thought that perhaps it was their inside knowledge that helped make some decisions that proved so prosperous.