Re: Neteller Update...
I think most agree NT will not be doing business with the US any longer. Basically NT has already seen their stock fall from 16->3 on fears of the loss of the US market. NT will cut the fat, streamline the company, concentrate on the other markets, and still be imensely profitable due to the fantastic margins of this business.
If they dont comply with the gov't there will still be a black cloud of possible future litigation. Investors would then be unable to properly evaluate the company. Unlike pokerstars (which is private) their only concern is share price.
The gov't is making an example of these 2 guys. Basically saying to any of the control people of these companies "dont ever come to the us".
No need to wait to see how theyre going to enforce this bill. The regulators figured out that they can apply the Rico laws. Though inteded to be used for organized crime, it has been a weapon of the gov't used to make a statement (specifically white collar crime).
The only onus on the US banks will be to make a reasonable effort to stop transactions with gaming sites and 3rd parties. Every one sees this bill for what it is (conservative, bible chit) and no way the banking industry is going to layout big money and risk possible litigation in enforcding this.
I feel bad for those 2, but come on , why would they risk treveling to the us?
|