This is like an old Star Trek episode, where the people who created robots to destroy their enemies died, but robots continued their mission. When Wall Street’s Morgan Stanley bought land for new casino in a remote Atlantic City neighborhood not suited for casinos, it used its money and political influence to get NJ Casino Reinvestment Development Authority (CRDA) to bulldoze surrounding neighborhood. Morgan Stanley quit the project, Revel Casino is closed, investors (including NJ govt. and union pension funds) will get pennies on dollar– but CRDA is still on its mission to take and bulldoze surrounding properties.
Check out the whole sad story.
(Image source – http://blogs-images.forbes.com/instituteforjustice/files/2014/05/Charlie-Birnbaum.jpg)
