On-Line Gambling; Native American Pay Day Loans, Connecting the Dots -- Nothing To Do With The Bakken

When the news broke that the Obama administration was giving the green light to on-line gambling, I was trying to sort out "why" and "why now"? Wouldn't this be a threat to Senator Henry Reid's home state. In fact, it may be (a threat), and in fact, perhaps the president is throwing the senator under the bus.  On the other hand, maybe this is a good thing for Las Vegas. I honestly don't know. We may have to wait to see how this plays out. It's hard for me to believe that the folks in Las Vegas and those congressmen representing Nevada didn't discuss this with the administration first.

While trying to sort this out, this item was sent to me:

An Indian reservation in the heart of Montana's farm country may seem an unlikely place to borrow a quick $600, but the Chippewa Cree tribe says it has already given out more than 121,000 loans this year at interest rates that can reach a whopping 360 percent.

As more states pass laws to rein in lenders who deal in high-interest, short-term loans, Indian tribes like the Chippewa Cree and their new online lending venture, Plain Green Loans, are stepping in to fill the void. The Internet lets them reach beyond the isolated Rocky Boy's Indian Reservation to borrowers across the nation, while tribal immunity has allowed them to avoid bans and interest-rate caps several states have set.

To Neal Rosette, Plain Green Loans CEO and the Chippewa Cree's former executive administrative officer, it's a win-win. The online lending venture is a resource for people who can't or won't borrow from banks, while it gives the tribe a steady revenue stream and jobs with unemployment on the reservation at nearly 40 percent.

The dots are starting to connect. 

Somewhat related to the above: if I remember correctly, there have been stories recently of tighter control of the internet, but now this: federal judicial support for on-line gambling and legally-sanctioned on-line pay-day loans. Very interesting.