Magazine article The Spectator

Less Compensation and More Moral Hazard Would Save the Poker School's Blushes

Magazine article The Spectator

Less Compensation and More Moral Hazard Would Save the Poker School's Blushes

Article excerpt

Poker players know that the player who is never bluffed is, in the end, a loser. The Downing Street poker school must try to take consolation from that, now that its leading lights have been so comprehensively bluffed by a visiting player whose only assets were a boyish smile and some form as a confidence trickster. They may even have been lucky. To get through life without being fooled over money might imply a narrow range of experience, but the surest victims are those who assert that they could never be fooled. They are proof against such dangers, so they say. They would know if someone was trying to spin them a line - and then they bite on it. They answer letters from plausible Nigerians. They are enticed into Lloyd's, on the story that this exclusive club will make their money work harder. They buy flats, on the story that tenants are easy to find and that prices will always go up, which was the line that the poker school swallowed. …

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