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• Our Gambling Culture Larry Fink And Company
• Our Gambling Culture Larry Fink Lyrics
• Our Gambling Culture Larry Fink Images

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• Source of Wealth:

  BlackRock

• Birth Place:

  Los Angeles, California, U.S.

• Marital Status:

  Married (Lori Fink)

• Full Name:

  Laurence Douglas 'Larry' Fink

• Nationality:

  United States

• Date of Birth:

  1952

• Ethnicity:

  Jewish

• Occupation:

  Businessman

• Education:

  University of California, Los Angeles

• Children:

  3

About Laurence Douglas 'Larry' Fink

American businessman Laurence D. Fink has an estimated net worth of $340 million in 2012. He is the current chief executive officer and chairman of the multinational investment management corporation, BlackRock. Today, BlackRock is considered as the world's largest money-management firm in terms of assets under its management.

Born in 1952, Laurence D. Fink grew up in a Jewish family. He attended the University of California, Los Angeles (UCLA) where he completed his Political Science degree in 1974. He then attended UCLA Anderson School of Management where he finished his MBA in 1976.

Our Gambling Culture Larry Fink And Company

After graduation, he started working for First Boston which is an investment bank based in New York. In 1988, BlackRock was founded under The Blackstone Group and Fink was one of the founders. Eventually, he became the CEO and Director of the company. In 1994, BlackRock separated from Blackstone but Fink retained both his positions in the company. Eventually, he became the company's Chairman of the Board. In 1999, BlackRock went public.

In addition to BlackRock, Laurence D. Fink also holds stakes in the hedge fund company Enso Capital where his eldest son sits as the chief executive officer. Fink is currently married to Lori, his wife since mid-1970s. The couple has three children together.

GAMBLING IN AUSTRALIA – The idea that Australians love to gamble is so firmly established that we rarely pause to question it.

This is true whether we picture Chinese and British “diggers” passing time on the goldfields, the sacred ritual of two-up games on Anzac Day or Phar Lap’s heart and the “race that stops the nation”.

Such questioning is timely as new legislation is proposed to regulate the way we gamble on electronic gaming machines (or pokies) and to restrict how far the interests of gambling sponsors can intrude into sports journalism.

In Wanna Bet?, co-authored with Royce Millar in 2000, anti-pokie campaigner Tim Costello noted that it’s almost obligatory to preface one’s critical comments on gambling with words to the effect of: “Like every Australian, I enjoy a bet on the Melbourne Cup …”

A recent (as yet unpublished) pilot study I conducted on Melbourne Cup Day celebrations in the workplace suggests that what is most unique about gambling in Australian culture is not that we gamble more than others but the social force of the claim that “Australians love to gamble”.

Even though most of the 23 respondents (aged between 24 and 74) were serial attendees of Melbourne Cup Day celebrations in the workplace, 39% only ever gambled on Melbourne Cup Day sweepstakes and none described themself as “regular” gambler.

In spite of this, several spoke of the important role of Melbourne Cup Day celebrations in creating a sense of community in the workplace and expressing a sense of national belonging.

While the belief that Australians love to gamble persists even for those who rarely gamble in everyday life, comparative international research indicates that the development of gambling in Australia parallels that in other nations where policies of de-regulation were implemented as part of a broader reorganisation of markets and social institutions commonly termed “neo-liberalism”.

To understand the cultural shift from strictly regulated legal gambling, through a deregulated era of pokies in every suburban pub, to the current situation where opponents of pokie reforms are decrying the return of a Nanny State, we need to reconsider some common beliefs about problem gambling.

Problem gambling

The recognition of “pathological gambling” by the American Psychiatric Association in the late 1980s saw a line drawn between two kinds of gamblers: a majority of gamblers who play “recreationally” and a small minority of “problem” gamblers who cause problems for themselves and significant others in the workplace and the family.

The idea of the problem gambler, understood as a dysfunctional consumer able to be weeded out from gambling venues, has since functioned as a convenient truth for state governments dependent on pokie taxes and industry stakeholders able to blame problems related to their products on a pre-existing condition of a minority of players.

This consensus on problem gambling has been threatened by the proposed Wilkie reforms to make pokies safer.

These respond to the 2010 Productivity Commission’s recognition of the link between destructive gambling and the accessibility of “new generation pokies”, which induce disturbingly rapid expenditure. Hotels and clubs are resisting a shift from the self-exclusion of problem gamblers to the regulation of all players on public health and consumer protection grounds.

Beer coasters that seem to propose that problem gamblers are “un-Australian” have been placed in venues. The ItsUnAustralian.com.au campaign warns: “They want to treat ordinary punters as problem gamblers. But you didn’t vote for it and you don’t have to put up with it.”

Yet there’s nothing particularly Australian about the rapid growth of pokies in most Australian states over the past two decades.

Our Gambling Culture Larry Fink Lyrics

Tim Freedman, the singer and songwriter behind The Whitlams’ hit single Blow Up the Pokies (see above), puts the case that pokies’ invasion of the cultural space of the pub killed the live music scene that generated such iconic Australian bands as Cold Chisel and Midnight Oil.

Poker

Our Gambling Culture Larry Fink Images

A cultural study of gambling in Australia would be incomplete without mentioning Joe Hachem (see below), winner of the 2005 World Poker Series Tournament in Las Vegas.