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Tuesday, December 08, 2015

Reid rankles Dems with push for casino rider in funding bill

Senate Minority Leader Harry Reid (D-Nev.) is kicking up a storm with liberals in his caucus by pushing an amendment to the government funding bill that would help Caesars Entertainment Corporation, a Nevada-based gaming giant in danger of bankruptcy.

Reid is pushing to add a provision to the year-end omnibus that would help Caesars avoid bankruptcy by allowing it to restructure debt incurred by a subsidiary out of court, according to Senate and K Street sources.

Critics of the provision say it would narrow a Depression-era law intended to protect minority shareholders and apply retroactively to a handful of lawsuits against Caesars. One lawyer involved estimated that at least six cases would be affected.

The proposal is causing uproar because there has not been a hearing on it this Congress. Critics say it’s an example of another provision being slipped into a massive bill at the last minute to help a special interest.

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10 comments:

  1. Gee wonder what is the size of kick back this crooked liberal sob is getting !!!!!!!!

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  2. Harry Reid bought and paid for by Nevada lobbyists. He has room to talk about corruption.

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  3. Reid needs money to buy obama's neighbors' homes in Hawaii.

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  4. Reid protecting his retirement investment income. We will see how McConnell handles this. Wager on he will allow it anyone.

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  5. Let the casinos die of their own accord, and Harry can die along with them.

    Justice is Justice.

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  6. If he doesn't help them he will lose his eye!

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  7. Sounds like a bill of attainder

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  8. Man! The bribe must have been tremendous!
    He doesn't even care what it looks like to other people.
    Keep cheering.

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  9. Why, when we have so many decent, productive businesses going under, would we want to fund this mecca of excess?

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  10. In the local economy the casino provides quite a few jobs.

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