Can You Trust Invisible Men & Shell Corporations Post UIGEA?

[Doom_Switch]

[/ QUOTE ]One of the great things about the legislation forum is that the posts here have a higher reason/hyperbole ratio than others.

To that end: At this _current_ moment, we Neteller customers have not been "robbed blind."

The situation is definitely not good, and I understand that there is "present value" of money which is inaccessible against the owner's wishes.

But for the moment, seemingly the entire Neteller entity is "ON HOLD" except for money held in non-US accounts. If you were a part-owner of Neteller, you would also be experiencing the inability to sell your stake (i.e. shares) because trading is halted.

As for the original poster -- he/she should just sign up at some blogging site and post his "dear diary" entries there.

[/ QUOTE ]

Why do you think you can speak on behalf of Neteller customers? If you were defending me as a lawyer I would tell you to jump off a bridge. I think there are numerous people who feel they have in fact been literally "robbed blind". They didn't purchase Neteller stock so why do you use a useless analogy of part ownership. Another great thing about the legislation forum is that we have moronic euphemisms of the current situation with Neteller.

[BruinEric]

The part-ownership point was not an analogy nor a euphemism. The point is that both US account monies and shares of Neteller are currently frozen/suspended at the moment. Neither person has access to what should be quite liquid holdings, though it is true our personal accounts should be more liquid than shares on the LSE.

So the point is much of the company is "frozen." This does not prove that both of those circumstances are permanent. There is no way those shares stay suspended forever, and there is little chance, IMHO, that your money stays suspended forever either.

If customer's money eventually is permanently gone, you'll be right. But you're not right yet. And to the contrary, I expect that you will see your money again.

But for now, even though some folks "feel" they were "robbed blind" doesn't make it so. Clearly Neteller is not meeting their commitments to customers and I think consideration of a lawsuit and/or working through the UK FSA on grievances is worth considering for those with large sums.

There has been interesting conjecture here at 2+2 as to what Neteller is doing with our accounts. Whether the DOJ has forced the stopping of payouts or that they have willingly stopped in order to have a "bargaining chip" WRT the liability of ownership.

As to your points about "if you were a lawyer" or "what gives you the right" or other miscellany...I don't even know where to begin. Enjoy!

[GrinderKing]

With no access to my funds not to mention NT going out of their way to keep it that way. I sure do feel like I have been robbed blind.

[Billman]

Ok, maybe it's more accurate to say that people have been robbed blind in only one eye. I agree both eyes is inflammatory. And maybe not totally blind but maybe it's like getting lemon juice squirted in your eye.

[MiltonFriedman]

According to the press release out today, the US and/or certain banking services are holding Neteller funds which were in transit ... about $55Million.

Claiming that Neteller has robbed anyone is way off base, Neteller's funds were frozen ... It remains liable to its customers, and has the liquidity to pay them.

If anyone is robbing players here is is Uncle Sam, seizing funds without any criminal charges even being filed, or the 'Banks" which can freeze but not seize.

[addictontilt]

Agreed Milton - however, what has been done here is asset seizure, and is perfectly legal from the US standpoint, they do this all the time, seize assets, and then you have to prove that the charges are false, to get your assets back.

This whole thing has and always will be a money grab, this is the start of it.

[MiltonFriedman]

Do you call with a 1 outer because you "feel" like you deserve to win ?



For a group of people who supposedly rely on objective analysis to make their stacks grow, this sure turns into a feely, whiney bunch when the focus moves from the flop-turn-river.

[Billman]

[ QUOTE ]
Do you call with a 1 outer because you "feel" like you deserve to win ?

[/ QUOTE ]

Milton that's just absurd. You call with a one outer because you feel lucky.

[MiltonFriedman]

No, it would never be reasonable to ignore relevant facts. The OP raised issues of integrity and trust, to which a track record of payment is certainly relevant.

If you want to throw brickbats, start with the parties who seized or froze Neteller funds, in the absence of any legal proceedings against the beneficiaries or the company itself.

[KARLC]

I wish I shorted NT stock when they passed the new laws.