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STEVE WYNN Goes On Big Rant About Occupy Wall Street, Obama, Deficits, And Anger At The Government
Joe Weisenthal | Oct. 19, 2011, 5:25 PM | 130,680 | 189
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Classic. On the conference call for Wynn Resorts, CEO Steve Wynn went on a big rant on Occupy Wall Street, Obama, and deficits. Here are our notes in raw form. It's all mostly paraphrased. In a nutshell, he says: Deficits are killing us, our dollars are worthless, and the Democrats are bankrupting the country and vilifying anyone who's successful. So naturally, people are protesting. ----------Image: AP

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It's very interesting about the folks who are occupying Wall Street. That group is quite diverse. There are people in there who think the government should give them more just because they are alive. There are people who are opposing government spending. That group is not homogeneous. What you do have is anxiety and fear that is endemic in the United States of America... due to the government. I am watching my employees standard of living due to deficits. The public is making the connection between deficits and their standard of living. They're seeing their wages go to 80 cent dollars to 70 cent dollars. I have not been able to keep up with the effect of deficits. You're seeing that on Occupy Wall Street. You're seeing it taken to the next level in Greece. People are trying to break into a parliament primarily controlled by the Unions. There comes a moment when the population realizes that it has to stop. Rich people are now being defined by the administration as people who make $1 million dollars Well, most of the businesses in America other than giant corporations are paying taxes under partnerships or S corporations.

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We have an administration that is fanning the fires that this is somehow undeserved profligate millionaires. It is worse than hypocrisy. It's one thing if it's kids. Americans are waking up; It's taking the form of anger and dissatisfaction with the government. And I think that's probably right. IT IS GOING TO GET WORSE. One side is right, and one side is wrong. You can not sustain these levels of deficits. The Democrats are bankrupting this country. -----------Meanwhile, shares of Wynn are sliding today, after some mediocre Macau numbers. SEE ALSO: 10 things you need to know about Macau > Please follow Business Insider on Twitter and Facebook. Follow Joe Weisenthal on Twitter. Ask Joe A Question >

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@Democrats Need to GO!: Meanwhile, Obama is fanning the flames on The Bitter Clinger Tour.

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J.D. on Oct 19, 6:08 PM said: @Democrats Need to GO!: The Dems have controlled California for the past 40 years plus. If you want the same time of economic devastation found there to go national, keep voting for liberals.

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musiclinernotes on Oct 19, 6:16 PM said:

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@Democrats Need to GO!: I couldn't agree with you more. If we reelect Flag as Offensive Obama and a democratic senate in 2012 we all need our heads examined. The left is most unhappy that the piggy bank supplied by the right is coming to an end. Too bad. Now they will have to figure out how to work for a living instead using our money for themselves.

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Comment flagged as offensive. Joeyy on Oct 19, 5:34 PM said: @Adam88: He supported Obama in the last election.

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@Adam88: No, one side is "suckier" and that is the demorat side. The Flag as Offensive political divide is government is the answer vs. government is the problem. Clearly, the demorats want to recreate the Soviet Union - Total government - Orwellian World. Barack is Lenin - make no mistake - a dangerous radical extremist who is destroying America. Go Steve go! Steve for President!

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Comment flagged as offensive. JohnQ on Oct 19, 5:53 PM said: @Adam88: Under 43 the debt went from $6.5T to $9.6T in 8 years...how is that double...Under 44 the debt has gone from $9.6T to $14.7T in 3 years...you meant to say the Obama doubled what Bush spent....

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Comment flagged as offensive. jamesusnvet on Oct 19, 5:59 PM said: @M.N. : Both parties are controlled by banks, corporations, and special interests BOTH parties are guilty as sin on this, the deceit is damn near transparent.

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As soon as people stop blaming each other (left/right - lib/con) they will WAKE THE HELL UP and see who is really at fault (Hint everybody in Washington, and the above mentioned controllers, for the last 40+ years). Liberals are pissed about what is going on in the country Conservatives are pissed about what is going on in the country Moderates are pissed about what is going on in the country How can all of what is wrong with this country be the other guy's fault if they aren't happy with what is going on EITHER?? The ONLY people who are fine and dandy with the way things have been are the Elite, whether it is in the Government, Military Industrial Complex, or Banksters. You are ALL being duped into fighting each other so you don't figure out what the hell is going on. Divide et impera - Divide and Conquer We have all been divided so long we have no idea we have been conquered. The TEA Party and Occupy Wall Street are the rumblings of the waking giant, we are finally waking up. Some are still asleep and pointing to their neighbor, but that is changing.

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jenb on Oct 19, 7:58 PM said:

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@M.N. : 1) Debt and Deficit or two different things. 2) Obama has added more Flag as Offensive than $4T to the DEBT and plans on adding more. He has the last administration beat by 5 years! Let's not forget how the debt was added starting in 2007 when the Dems took control of the purse strings. You can say it is both sides all day long, but you really only need to look at the actual numbers and who put their grubby little items in these spending bills to get the true picture.

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ImaHippyBurning on Oct 19, 8:57 PM said:

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@jamesusnvet: Well said. The Political situation in this country is now a full Flag as Offensive time business and it is destroying what makes us great. They are all the same, the Federal govt needs to be reduced by 40%, state govt by 35% and local by 25%. People need to stop pointing fingers at each and look internally at what they are doing to make it better or worse? We are being pitted against each other and when the $%&t hits the fan someone such as Obumma will become dictator...

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sodacrackers2 on Oct 19, 10:30 PM said:

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@jamesusnvet: @jamesusnvet, the party that has been taken over by the Flag as Offensive socialists/communists/Marxists is the democrat party. Occupy Wall Street is entirely their making, not just here but all over the world. I agree we have to join together to fight the evil that has infested our government. We can only do it at the ballot box. If we join up with these occupiers (dupes) we will playing into the hands of these evil men who want to have a global government (can you even imagine the corruption?) no borders, no morals, no art, no ideals. The system of government they are proposing has led to the deaths of a 100 million people at the hands of a few despots that the "progressives" embrace as their heroes: Lenin, Mao, Che, Castro, Chavez. So far they have not dared to say publicly that they admire Hitler but the occupiers are spouting a lot of hatred for the Jews. We cannot and must not cooperate with evil.

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Charles Martel (Look him up) on Oct 19, 10:52 PM said: @sodacrackers2: Change for the better will only come when we take back our college campuses from the crazed, hateful Marxists who use their tenured positions to forcibly indoctirnate college students! The time is now to support the Youth for Western Civilization! http://www.westernyouth.org

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"The governing ideology of Western universities is the pursuit of radical multiculturalism. It is used as a weapon to defeat any conservative, libertarian, classical liberal or even progressive, patriotic ideas. The insane and extreme anti-Western bigotry on college campuses must be directly confronted and defeated if any right-of-center group is to make any progress. This also means that the people of the West need to stop apologizing for their own existence. Youth for Western Civilization is unique in that we are openly confronting the forces that are leading to the deliberate destruction of our civilization. We are also distinguished in promoting an activist mindset among conservative and right-wing groups on campus."

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Comment flagged as offensive. adegiulio on Oct 19, 5:40 PM said: @plate of pie: Dutch?

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Pure Alpha on Oct 19, 5:50 PM said: @plate of pie: It was a Picasso. He had already sold it to Stevie Cohen, and it was insured.

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Dutch (URL) on Oct 19, 5:52 PM said: @adegiulio: The French did declare war but quickly raised a white flag.

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John Moser on Oct 19, 6:51 PM said: @Pure Alpha: Destroying a Picasso should earn you a medal.

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Garfield Gordon on Oct 19, 6:55 PM said: @Dutch: You mean the Spanish....don't let the details get in the way of your argument, whatever that may be...

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plate of pie on Oct 19, 7:06 PM said: @plate of pie: Wow..who thought Steve Wynn had fanboys.

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beanerecmo on Oct 20, 1:15 AM said: @Dutch: The only wars the French have won is when they fought between themselves.

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Comment flagged as offensive. Comment flagged as offensive. Diego Roswell on Oct 19, 9:59 PM said: @chiaveuno: You sir are a Marxist.

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Will H on Oct 19, 10:43 PM said: @chiaveuno: Amazing.... Who says BI is full of liberals?? BOUGHT and PAID for. Money does the talking as usual.

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usnret on Oct 19, 10:57 PM said: @LAsmog: Hey, dumb-ass! Read the lead-in: "Here are our notes in raw form. It's all mostly paraphrased." His comments were perfectly coherent to most

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chiaveuno on Oct 19, 11:10 PM said:

@Diego Roswell: Diego, if stepping up and recognize that each of us has a duty Flag as Offensive to do our part to help our country in every way we can, makes me a Marxist, so be it. Did you ask yourself the question: "where and how Stevie made his money" and "why is he so paranoid that he'll lose some of it"?

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FXTimes on Oct 19, 5:40 PM said: Interesting...

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Reply Correct on Oct 19, 5:44 PM said: The Democrats are bankrupting the country. Both fiscally and morally. They need to GO!

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Stone321 on Oct 19, 6:36 PM said: @Correct: Open your eyes, both parties have screwed this country over and both are morally bankrupt.

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pseudorocket on Oct 19, 5:47 PM said: Someone should ask him, "How about the lady in the lake, you know, the one that fell from your boat & got chopped into little pieces??"

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Comment flagged as offensive. Barack "Demagogue" Obama (URL) on Oct 19, 5:57 PM said: @war is a racket: I think that my start on war in Africa can produce another Vietnam. More war - more government - more spending - more debt - more socialism - more Barack! WAR IS PEACE! IGNORANCE IS STRENGTH!

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war is a racket on Oct 19, 6:04 PM said:

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@Barack "Demagogue" Obama: Amazing , all you have to do to attack and Flag as Offensive invade another country is send a letter to the gutless assholes in congress and tell them you are launching another major attack, kind of like HITLER did with the reichstag, hell the cabal has turned america into the reincarnation of hiters third reich and nobody gives a damn.

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Comment flagged as offensive. Brodo80 on Oct 19, 6:01 PM said: @chilled to the bone: Steve, time to find a Manchurian Candidate stat. Your own fault not recognizing that eventually people cannot take on anymore debt. How is Macau working for ya now. Slowing down too?

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Pntrray on Oct 19, 6:19 PM said:

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@chilled to the bone: Yeah blame Bush, it was the community reinvestment Flag as Offensive act, started under Jimmy Carter and strengthened under Bill Clinton. When Bush administration regulators went before congress and stated we have a problem with Fanny Mae and Freddy Mac they were called racists by the dems on the committee, Barney Franks, Gregory Meeks to name a few. Get your facts straight moron, Raines and Johnson the CEO's of Fanny and Freddy walked away with tens of millions of dollars cooking the books and lowering lending standards. Yeah it's Bush's fault.

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Rolandmi on Oct 19, 8:52 PM said:

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@Pntrray: Do you really think that the "Housing Bubble" called all the Flag as Offensive problems that we have today? Then you are delusional. Would 10+ years of 2 illegal wars have anything to do with it at all? And don't give me the 9-11 BS, neither of those countries attacked us... 17 of the 19 were Saudi! Why the hell did we not attack that god-forsaken place instead? Would it have anything to do with this cheap gas we all have now? You are a freakin sheep. I voted for "W' twice... Had to really hold my nose the 2nd time, but did anyway. QE1 was Bush's deal. Let ALL these companies burn and let a true free market sort it out. I used to be just like you, believe it or not. Then I decided that I did not need talking heads to tell me what to think. I would find out the truth myself. Turn off Fox News and crawl out of Glen Becks arse and see the sunshine will ya? We are all duped into this whole 2 party Lib/Con system. Divide and Conquer, that is exactly what this is all about, keep us fighting among ourselves unless we see the real problem. This country has been bought and sold decades ago. Remember Eisenhower's farewell speech? The IMC is what rules the world, you are only helping it. The only thing that is going to save this country is a BIG BLOODY REVOLUTION..... and it's coming... If you would only get your head out of your arse and be apart of the solution and not help continue the problem ditohead.

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kctruby (URL) on Oct 20, 1:54 AM said:

@Pntrray: Bush was in full support of the 'ownership society' a goal I agreed Flag as Offensive with. But the pushing of cheap mortgages was a risky gamble that did not pay off. His goal was people who own homes become good neighbors. Seems logical but as you stated the many laws that made 'bad credit risk clients' were a disaster

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George Washington on Oct 19, 5:54 PM said: Steve Wynn and the other flim-flam artists are getting REALLY nervous, apparently. Does this mean the tide has turned in the class wars? Is the 99% now winning?

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Spanky on Oct 19, 6:59 PM said: @George Washington: @George Washington: "Is the 99% now winning? "

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Uh, it's incredibly arrogant for ANY group to claim that they represent 99% of Americans. That's just marketing hype and the facts that libunatics fall for it demonstrates they lack integrity.

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GelW on Oct 19, 7:18 PM said: @Spanky: The group just claim to be not the 1% and so part of the 99%, they don't claim to represent 99%.

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Gordon on Oct 19, 5:55 PM said: he's was at the Vegas Republican debate in the audience with his hot new girl.

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Comment flagged as offensive. jsullivan23 on Oct 19, 6:43 PM said:

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@Greg: @Greg, hahaha, I love that people are down voting you for suggesting that making a million dollars counts as you being rich. And a 1,000,000 to 1, none of them are millionaires.

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DeeInHouston on Oct 19, 6:57 PM said:

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@jsullivan23: They're giving him a thumbs down, because those people at Flag as Offensive $1MM probably own a small business employing a few people, and if they get taxed more, some of those employees will have to be let go. Pull your head out and do some research, ahole.

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HaywoodMatthews on Oct 19, 5:57 PM said:

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"The Democrats are bankrupting this country." - is selective amnesia I guess. Flag as Offensive Bush / Cheny took us from $5 trillion to over $10 trillion in federal debt in 8 short years and nobody said anything. Nobody has ever told us what our objectives were in Iraq after they found no WMD's there. Bin Laden is dead and we are still in A-Stan? Why? Why can I ask but get no answers? Why does TSA even exist? Let those flying on planes pay for their own damn security or else drive a car to where they are going. Why am I paying for it?

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Bill Clinton (URL) on Oct 19, 6:02 PM said:

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@HaywoodMatthews: I had an opportunity to take Osama out and prevent Flag as Offensive 9/11 but I was busy with Monica. Hillary and John Kerry and Al Gore all backed invading Iraq. Barack is so stupid that he is offering Libya money!!!!! Libya has billions in the world financial system and export OIL!!!!!

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adegiulio on Oct 19, 6:09 PM said:

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@Bill Clinton: Biggest misrepresentation out there. Osama wasn't the threat Flag as Offensive back then that he turned into. He never attacked the US when he was supposedly "offered' to us by The Sudan. Yet, people like you repeat this tidbit like gospel.

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jamesf on Oct 19, 6:43 PM said: @adegiulio: Oh really? The guy who attached us on 9/11 wasn't a threat? So he liked us then and didn't want to attack us? You are insane!

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Weaselca on Oct 19, 7:17 PM said: @adegiulio: Add a comment..@adegiulio: I wasn't aware that blowing up two American embassies in Africa wasn't a threat to the US.

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adegiulio on Oct 19, 8:12 PM said:

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@Weaselca: Easy guys, I didn't say he wasn't a threat, I said when Clinton Flag as Offensive was supposedly offered Osama,, he wasn't the threat that he turned out to be. The events you two cite occured AFTER the Sudanese allegedly offered him to the US. Beforehand, bin Laden wasn't considered a mastermind, just some nut with a lot of money who hated the US. At that time, he had committed no crimes against the US that would warrant assasination or anything like that. Please, get your facts straight before you give me shit.

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Brad on Oct 19, 9:47 PM said: @adegiulio: Remember the first trade center bombing? You know, the truck filled with explosives?

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Bill Clinton (URL) on Oct 19, 10:03 PM said:

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@adegiulio: A US Navy ship was nearly sunk by Osama and the World Trade Flag as Offensive Center was seriously bombed and the embassies in Africa were bombed and I regarded it all as a "police" matter and not war. I used the Oklahoma City bombing for political purposes on the other hand - notice how quickly McVeigh was tried and executed in comparison to these islamic nut cases? Notice how I bombed in the Balkans in support of the islamics and then 9/11 happened?

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Dean Wormer on Oct 19, 5:58 PM said: And WYNN just broke the 200dma!! Damn sombody give me back my money!!!

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Reply Conservative Reader on Oct 19, 5:58 PM said: He is right on the money.

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All these "occupiers" are wound around the axle about the 1% and bankers making too much money and meanwhile the gubment is spending us blind.

Reply KTM on Oct 19, 6:04 PM said:

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Obama and the Dems used their filibuster-proof majorities in DC to pass a $1 Flag as Offensive trillion stimulus plan, then rigged the budget so that the stimulus would become the new baseline. We haven't had one $1 trillion stimulus, we've had 3 of them now. How's that working out for us? Obama wants to spend $447 billion to keep 1.9 million government employees on the job. That's almost $240,000 per employee. Never has the government been so proud of spending so much to deliver so little in return.

Reply Obvious on Oct 19, 6:08 PM said: I wonder who's more indebted, the average Joe or Winn Enterprises?

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Reply Wheel on Oct 19, 6:07 PM said:

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"...the casino art tax loophole which he ordered on behalf of Mirage hotel magnate Flag as Offensive Steve Wynn. The tax windfall created by Mr. Dini's AB 536 is costing Nevada school children millions and will continue to do so for years to come until repealed, which I vow to accomplish as governor," Neal said. Dini, (D-Yerington), was the originator of Nevada's 1997 "Show Me the Monet" law which granted a tax loophole to buyers of publicly displayed works of art costing more than $25,000. On April 15, the Wall Street Journal reported on an "improbable art binge taking place in the world capital of kitsch." Neal says "the bible of business did not notice the absolute hemorrhage of taxpayer funds subsidizing that boom. In the first year alone, Mr. Wynn's investments will cost the public treasury more than $15 million, much of it at the expense of Nevada school children. Mr. Dini is also a casino owner and did his colleagues a big favor at the expense of taxpayers and students," Neal stated. Wynn has amassed more than $260 million in fine art work. He will avoid 71.4% of sales taxes in the first year and escape personal property taxes in perpetuity." http://www.joeneal.org/98/nukes.html

Reply Pntrray on Oct 19, 6:08 PM said:

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Mr. Wynn should look in the mirror. A big supporter of Harry Ried, the senate Flag as Offensive majority leader who has helped to drive us straight off the proverbial cliff. He was also an Obama supporter in 08. Talk about your buyers remorse! All you wealthy folks who supported this anti American president have a bulls eye on your back thanks to this guy. I could see people in the lower income levels being fooled by this guy (Obama) but Mr. Wynn has no excuse for such colossal ignorance. Him complaining now is the height of hypocrisy.

Reply Dean on Oct 19, 6:14 PM said: Obama: He Made It Worse

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Reply mwilldy on Oct 19, 6:24 PM said:

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The federal deficit increased 4 trillion during Bush's 8 years (including bailout 1). Flag as Offensive Candidate Obama criticized these deficits but has added more than 4 trillion to our deficit in less than 3 years. Current monthly deficits are 4x Bush's worst (last) months. This administration (w help from a Dem controlled congress) immediately doubled down on Bush's deficits, then tripled down and is now quadrupling down on his worst deficit rates! Please plug dates into the deficit table below to verify: http://www.usgovernmentspending.com/federal_deficit_chart.html China recently pointed out "there isn't enough money on earth to sustain US borrowing". Inflation has increased food prices 30+% in 1` year and doubled the cost of gas & gold in 2 years. It's as though the captain of the titanic sees the iceberg and calmly steams ahead at full throttle!

Reply cordstreet on Oct 19, 6:24 PM said: Both sides may suck however you sir, are an idiot and full of BS. The deficit did not not double under 43 AND were talking about the crippling of our economy due to Obama's inability to lead. Not in 8 years but in 3. Obama takes sucking to a new level.

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radix on Oct 19, 6:34 PM said: @cordstreet: True. the deficit went up by only 80%, not 100%, as a doubling would require.

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Transport joe on Oct 19, 6:25 PM said: Add a comment...Bro, Bush 2008 budget ran 161 bill in the red what the hell are you talking about . This lo brow is running 1.3 trillion 3 years running wake up

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radix on Oct 19, 6:41 PM said:

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@ Transport joe: What are you talking about? When Bush came Flag as Offensive into office the debt was ~5.7 trillion, at the end of his first term, the debt was 7.9 trillion. 7.9 - 5.7 = 2.2 trillion, 4 * 161 = 644 billion, using your number, how do you explain the shortfall?

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andy24 on Oct 19, 6:29 PM said:

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Funny thing is that when consumers were spending all their "debt" dollars in Flag as Offensive wynn's casino in the 00's he didn't say a PEEP. Just graph out the dollar value change of consumer and government debt vs gdp during that period and it is obvious what funded the nation's growth in spending. However, during that period every CEO in the country claimed that their company's earnings growth was the result of their brilliance and asked their boards for a big pay raise. Now that the trend has reversed they blame the economy and government and still ask for a big comp package.

Reply Dicky (URL) on Oct 19, 6:30 PM said:

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Yes Obama and his croonies have ran this country into the ground and continue at Flag as Offensive a record pace. But the thing is, its not just the democrats. you have to keep in mind that senators are all buddies, presidents are all buddies, and congress is all buddies. THey are all friends, and when the camera goes on they put the game face on, and when it goes off they go golfing together. What everyone needs to remember is we are the American people and they are the gov't (the Elite). So what needs to be done is forget who is democrat and who is republican, whis isnt easy to do specially with the brainwashing we got from both sides. BUT FIRST WE ARE AMERICANS and we need

to speek in a unified voice. If dems think that paying a retired union rep should get $500,000.00 a year pension then nothing is going to ever get done. Its time the people come to a commen sense ground. They are dividing us for thier gain, divide and conquer is a simple stratagy. And always used when trying to take anything over. Stop letting our gov't divide us and lets come together like i said, on a common sense ground not just a common ground. BUT YOU HAVE TO REMEMBER FIRST YOU ARE AN AMERICAN NOT A DEMOCRAT OR REPUBLICAN! If this isnt changed, get ready to see what has been happening in greece come here REAL REAL SOON!

Reply student1776 on Oct 19, 6:31 PM said:

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Most of the Democrats who are supporting this economically unsustainable insane Flag as Offensive insane spending, the crushing regulation, the creation of a massive bank-busting new entitlement in Obamacare probably really mean well and just don't understand that the consequence of enacting their fantasies to the generation of disaster for us all. Most. But not all. I have no doubt Obama knows exactly what he is doing. Every body blow against American economic vitality, every business that goes under, every new person who is unemployed and therefore dependent on government, every person he pushes off private healthcare and into a government program is one more person whose life is now dependent on government, one more person enslaved to government just as the teachers and postal workers are enslaved to government. The reason you can tell that he knows is that he is conscious enough of it to use contrived phrases and misdirection to make a pretense that he is not doing things he obviously knows he is doing. A normal clueless Democrat would not understand the evil of their actions and would not know to resort to deceit. But an Alinsky style radical ex-neighborhood activist who encourages people to hate the achievers, who aligns with groups urging the lynching of bankers, who uses moderate words to hide radical action is by the very act of deception confessing a sure knowledge that he is doing evil. We have elected incompetent Presidents before. We have elected corrupt Presidents before. But we have never elected a President who wants to destroy the US as an economic power, as a stalwart of liberty and capitalism before. Hopefully we never will again. 2012 cannot come fast enough.

Reply SAILOR on Oct 19, 6:34 PM said: A lot of people got bamboozled by the fraud in the WH, thank God (AL)Most of them are seeing the light. You can't fix " STUCK ON STUPID"

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Reply Denzo on Oct 19, 6:34 PM said: Sorry guy, you are a part of the problem. But hey, nothing incites scenarios like Greece and the French Revolution quite like a winner take all mentality. Keep it up big guy.

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