Party CEO predicts banks/ processors to leave US IG w/i 60 days - Page 4

4_2_it · #31 10-20-2006, 03:39 PM

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but what happens when the feds and DOJ go knocking on their doors? It will be interesting to see what happens.

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When exactly did the feds get the authority to enforce US laws in foreign countries?

If they already have it, why aren't they in China arresting those who are openly violating US trademark and patent law? Why aren't they in Amsterdam arresting prostitutes and drug selling coffee house owners?

Nikoms · #32 10-20-2006, 03:43 PM

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Think about it. The US Government is about to come down hard on sites taking US bets while Party has quickly cut out Americans and started focusing on attracting new players from europe/asia. If you think of this long term, I think this could potentially make Party bigger then it ever has before.

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No. Losing U.S. players will never be a benefit to Party. They lost almost 80% of their business. Party's stock might go up again one day, but as far as being the top poker site in the world? Those days are over now that people have tried other sites

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Don't get me wrong, Party's bonuses were great - and with the competition, it was a breeze to clear decent bonuses and make good coin in the process, but there's a portion of their business that they have likely lost for good. Their all-too-quick "screw the US players" attitude will leave a bad taste for many - myself included...

...oh crap, was I one of the fish???

Wake up CALL · #33 10-20-2006, 03:45 PM

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When exactly did the feds get the authority to enforce US laws in foreign countries?

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On Americans, the answer is always since our Union was formed.

On foreigners, have you ever heard of extradition?

Yes I know they will not extradite someone for operating an overseas poker site but you get the point I hope.

HSB · #34 10-20-2006, 04:05 PM

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When exactly did the feds get the authority to enforce US laws in foreign countries?

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On Americans, the answer is always since our Union was formed.

On foreigners, have you ever heard of extradition?

Yes I know they will not extradite someone for operating an overseas poker site but you get the point I hope.

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If they aren't going to extradite for operating a poker site then what exactly is the point?

Leader · #35 10-20-2006, 04:09 PM

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CEO's first rule of thumb...protect stock price...whatever it takes, that is the ONLY interest they have

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LOL - yes Party's CEO did a great job protecting their stock price.

Everyone seems to agree that the only reason Party pulled out so quickly was because they are publicly traded and to not adhere to US laws may have contridicted some of the Stock Exhange rules (or something like this).

Its strange given that the new bill doesnt actually change the legallity of online poker - if wasn't illegal before it isnt now etc etc etc.

Party could easily have took this stance with the Stock Exchange or whoever else's "rules" they were worried about as a public company. Way to protect stock price CEO!

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You are a moron. You are thinking with your heart and emotion instead of your brain (if you have one). What company would leave the lucrative American market if they did not have to?

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A company run by morons

Wake up CALL · #36 10-20-2006, 04:16 PM

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When exactly did the feds get the authority to enforce US laws in foreign countries?

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On Americans, the answer is always since our Union was formed.

On foreigners, have you ever heard of extradition?

Yes I know they will not extradite someone for operating an overseas poker site but you get the point I hope.

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If they aren't going to extradite for operating a poker site then what exactly is the point?

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I just answered the question asked which implied that it couldn't or hasn't been done in the past which is clearly not the case.

247boss · #37 10-20-2006, 04:58 PM

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However, I would not consider him to be a spokesman for Neteller, Pokerstars, Full Tilt or anyone else who is still doing business in the US.

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well said

ericicecream · #38 10-20-2006, 05:04 PM

I imagine they would have their passorts revoked and shipped back home. If the Manx (Isle of Mannians) have any jails, I imagine these DOJ people are likely to be in them.

U.S. law does not rule the world, I don't know why people keep thinking it does.

MiltonFriedman · #39 10-20-2006, 05:08 PM

They have $132 million to cover $192 million in player liability and 90% of their players are going to cash out.

Their $500 million credit facility was cancelled,

Things can get worse quickly for the shareholders. (I am NOT saying that the Company is going to fold, not by a longshot ... However, I think distressed debt of Party, if available publicly at a steep discount, might be way better to make a bet here than investing in common equity.)

ericicecream · #40 10-20-2006, 05:12 PM

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On Americans, the answer is always since our Union was formed.

On foreigners, have you ever heard of extradition?

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British citizen visits U.S. and kills someone here then returns to Britain, he will be extradited.

I go to Britain and buy a Cuban cigar, the store owner will not be extradited, not because it is a lesser crime, but because he didn't commit any crime. I will not be prosecuted, because I did not commit any crime.

Do you see the difference?