Flightty, I'm trying very hard not to come across as rude here, but almost every post you make just expresses further ignorance of some aspect of the sport and diminishes my respect for your opinions. From the comparative effects of a racing whip and a general riding whip (contrary to your assertion, the latter is MUCH more capable of doing harm to a horse whereas the former has foam padding and air cushioning and relies on the sound it makes as much as it does the physical contact to be effective) to your understanding of the make-up of racehorse ownership, you can state your beliefs as vehemently and eloquently as you like but they are just plain WRONG.
Have you heard of racing partnerships? Joint ownerships? Racing clubs? These multi-ownership entities have made horse racing ownership more affordable than ever before. Yes, there are still the Sheikhs on the Flat and the multi-millionaire owners of strings of horses, but they are the minority nowadays. People can pay for a half, a quarter, a twelfth, a twentieth of a horse with a group of like-minded friends. If you ever have a moment, look up the story of Dream Alliance. That's the reality of horse ownership for thousands of people nowadays.
And as for the "it's not working" aspect...I'm not going to rehash my entire former post but in a nutshell: while there is racing, horses will die. While there is any equestrian sport, horses will die. While human beings keep horses for pleasure, horses will die. All the safety measures, modifications and welfare rules in the world won't ever change that. It's a hard fact to stomach and shouldn't stop us all working to identify and implement further improvements (eg such as reducing field sizes in the National). But horses will still die. If you can't accept that, join Animal Aid and work towards the abolition of horse ownership as the only logical conclusion. If you think that's too extreme then you ( abstract you) are a hypocrite, because you've made the decision that the death of Horse X is unacceptable (because it happens on a TV in your living room; because that death is a by-product of people trying to make money out of racing) but the death of Horse Y is fine (because it happens in a field and you'll never know about it). A well-meaning hypocrite, but a hypocrite nonetheless.