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#31
07-31-2007, 09:23 PM
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Re: Gamblin 911 article.
[ QUOTE ]
Gambling911 is a rag, 70% of the stuff they print is crap, it's like a bunch hyper high school boys running a virtual newspaper. [/ QUOTE ] I remember when they said the Pokerstars was DEFINITELY going to leave the US as soon as UIGEA was signed. 
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#32
07-31-2007, 10:27 PM
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Re: Gamblin 911 article.
Banks are regulated by the Federal Reserve System if they are national banks. The FRS regulates or attempts to regulate interest rates by changing the interest rate that banks charge each other or borrow from the FRS system.
The Treasury Department does not regulate the banking system. It regulates the spending of the government, printing money and collecting taxes.
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#34
07-31-2007, 11:43 PM
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Re: Gamblin 911 article.
[ QUOTE ]
[ QUOTE ] Anyone know why iMEGA named the FTC as a defendant but not the Treasury Dept.? They also mentioned the FTC is involved with prescribing the regs and I don't find that anywhere. [/ QUOTE ] That's a good question. The named defendants in the lawsuit are the Attorney General of the United States, the Federal Trade Commission, and the Federal Reserve Board. My quick sense from skimming the complaint is that the members of iMEGA, because they are not banks or similar entities, are regulated not by the Treasury Department but by the FTC. Therefore, it's the FTC they're concerned about cracking down on them. [/ QUOTE ] Thanks, you could be correct that some members are money transmitters; but are any of them US and regulated by FTC? I still don't understand them trying to restrain prescribing the regs and leaving Treasury out of that restraint.
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#36
08-01-2007, 12:44 AM
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Re: Gamblin 911 article.
[ QUOTE ]
I still don't understand them trying to restrain prescribing the regs and leaving Treasury out of that restraint. [/ QUOTE ] It's kind of an academic point. If the court rules that the statute is unconstitutional, the whole federal government is going to be restrained from enforcing it.
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#37
08-01-2007, 02:44 AM
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Re: Gamblin 911 article.
Nobody since UIGEA has passed has known what effects the regs will have once they are in place or how effective they will be. How does iMEGA all of a sudden "know" once the regs are in place we're screwed?
Is there any reason to believe after reading the article regs are close to coming into effect? Serious question. I see there is a new column on 911 "Joe Brennan Jr., founder of iMEGA.org, expressed a slight optimism that September 4 will result in a temporary restraining order related to the Unlawful Internet Gambling and Enforcement Act policy provisions."
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#38
08-01-2007, 02:53 AM
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Re: Gamblin 911 article.
[ QUOTE ]
[ QUOTE ] the article is awfully depressing although i can't figure what the heck they are trying to say. i wonder who are the "firmly committed operators" who are admitting they are going to have to "pack it in" [/ QUOTE ] Yep, another Christopher Costigan Pulitzer entry for sure. I am assumiing the "firmly committed operators" is/are not the poker sites because of this line: [ QUOTE ] "The big online poker players need to get on board here," said one operator. [/ QUOTE ] [/ QUOTE ] The articles are worrisome, but the quote above makes me think possibly this is the sportsbetting side using scare tactics to get the poker side firmly on board with iMega rather than looking to Frank and Wexler Legislation. They realize poker at least can make a better case (witness epass only hanlding poker), has skill act, more popularity, acceptance, etc. So maybe its wishful thinking, but I'm hoping poker is in a better spot than the article lets on.
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#39
08-01-2007, 03:32 AM
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Re: Gamblin 911 article.
I think poker has more acceptability and less enemies than sportsbetting. But, as a package, we shouldnt jettison the books. They brought the WTO suit, not poker. And, the books have a helluva bigger handle than we do. If it came down to pure revenue to the government, sports betting would dwarf us. And, if it comes to compromise, having the option of taking sports betting off the table is nice to have in the back pocket.
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#40
08-01-2007, 04:26 AM
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Re: Gamblin 911 article.
[ QUOTE ]
[ QUOTE ] Gambling911 is a rag, 70% of the stuff they print is crap, it's like a bunch hyper high school boys running a virtual newspaper. [/ QUOTE ] I remember when they said the Pokerstars was DEFINITELY going to leave the US as soon as UIGEA was signed. [/ QUOTE ] And I remember when they ran an article about Doyle being arrested, only to retract it later in the day. The thing is trash.
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