Outcry as US targets City firms over online gambling

[RayPowers]

"Subpoenas have been issued by the Southern District Court of New York to at least 16 banks, including HSBC, Dresdner Kleinwort, Credit Suisse and Deutsche Bank. The official demands for e-mails, telephone records and other documents form part of a controversial push by the Department of Justice (DoJ) to build cases against individuals and companies who profited from online gaming in the US."

Link (http://business.timesonline.co.uk/article/0,,9070-2559839,00.html)

Ray

[zombies kill]

oh my damn. this is really bad. damn

[okietalker]

This is the beginning of the very end, at least for a while, for us US players.

Gawd... my head hurts

[keebler61]

Uh. What are you guys talking about?

This is a positive thing. Angering the banks has national implications. If the order comes for the DoJ to stand down on thier subpoenas, it means that it will be hard for the DoJ to prosecute people like the Netteller executives. If they can't prosecute them, it's a huge win for poker.

[gulon]

keebler, while I applaud your positive outlook on life I can't buy into the idealized thinking that this is any way a good thing. I'm pretty sure these banks are gonna bend over and grab their ankles as soon as they walk into court. They simply have no recourse here and must comply with what the DOJ believes to be illegal activity. I fail to see how banks have any leverage to force an "order to come down for the DOJ to stand down on thier subpoenas".

[gergery]

[ QUOTE ]
Uh. What are you guys talking about?

This is a positive thing. Angering the banks has national implications. If the order comes for the DoJ to stand down on thier subpoenas, it means that it will be hard for the DoJ to prosecute people like the Netteller executives. If they can't prosecute them, it's a huge win for poker.

[/ QUOTE ]

None of those banks can possibly risk having the DOJ mess with their ability to act on Wall Street. Even the whiff of a problem will cause them to lose underwriting business. They will complain loudly to the British government's financial secretary guy, and he will make grumbling noises in the press and sincerely be ticked at the US yet again butting in where they don't belong, but this is ultimately not an issue they'll want to pick a big fight over.

[Python49]

are they talking about going after players or just people who were involved in the business aspect of it

[RGL]

IMHO, they are going after the Investment Banks that brought sites public. The focus in on papers related to their public offerings and the ownership that preceded it, I believe.

[larsjones]

Can someone please explain to me in plain english(not good with legalese) qwhy we have to endure all this [censored]? At least in my view, there is ZERO way to get rid online poker in its entirety, so why not just set to work in getting it in line with governmental wishes. To me, seeing talks of a "war" over online poker is absurd, and I believe the government is to blame. Suddenly, the idea of laissez-fairre doesn't apply? Fine, then give us an option that does. I find it amazing that no one that I've seen has made an effort to hash something ouit that is beneficial to both sides.

I guess we can all do it the long way and watch as millionaires lose fortunes, but in the end I guess the result will be the same.

[jrbick]

Why is this being posted about again?

[Sniper]

Main DOJ subpoena thread (http://forumserver.twoplustwo.com/showflat.php?Cat=0&Number=8844596)

[caguma]

[ QUOTE ]
At least in my view, there is ZERO way to get rid online poker in its entirety, so why not just set to work in getting it in line with governmental wishes. To me, seeing talks of a "war" over online poker is absurd, and I believe the government is to blame. Suddenly, the idea of laissez-fairre doesn't apply? Fine, then give us an option that does. I find it amazing that no one that I've seen has made an effort to hash something ouit that is beneficial to both sides.

[/ QUOTE ]

We've wasted billions on a "war on drugs", why should a fruitless war on poker be any different?