Unlawful Internet gambling

Manne · #1 (**permalink**) 11-11-2008, 05:46 AM

A senior congressional Democrat on Monday accused the Bush administration of rushing to implement Internet gambling rules that have raised concerns among banks before it leaves office on January 20.

Barney Frank, the Democratic chairman of the House financial services committee, said he was "deeply disappointed" that the Bush administration was moving forward with so-called midnight rulemaking that would burden the financial industry at a time of economic crisis and tie the hands of Barack Obama, the incoming president.

snobben · #2 (**permalink**) 11-11-2008, 05:57 AM

Bush - completely ignoring the American people.

Manne · #3 (**permalink**) 11-11-2008, 08:54 AM

Quote:

Originally Posted by snobben

Bush - completely ignoring the American people.

Members of the current Bush Administration have never been high on the idea of being honest with the American public.

Manne · #4 (**permalink**) 11-11-2008, 09:53 AM

The Bush administration’s proposed rules on gambling would go into effect on Jan. 19, 2009 according to Rep. Barney Frank.

Read more: Barney Frank critic of banning Internet gambling

kennex · #5 (**permalink**) 11-11-2008, 12:04 PM

Quote:

Originally Posted by Manne

The Bush administration’s proposed rules on gambling would go into effect on Jan. 19, 2009 according to Rep. Barney Frank.

Read more: Barney Frank critic of banning Internet gambling

I don't think bush will do that before he leave the white house. Banks are in a desperate need for transactions to establish their assets.

No way

Manne · #6 (**permalink**) 11-12-2008, 07:51 AM

Latest news: Stop ban on online gambling

Manne · #7 (**permalink**) 11-13-2008, 05:57 AM

UPDATE: The US Treasury Department and Federal Reserve Board approved regulations on Wednesday designed to crack down on Internet gambling. The law bans US banks, credit card and financial companies from handling Internet gambling bets and has been the target of fierce criticism that it would be an enforcement nightmare.

Firms have until December 1, 2009 to be in compliance with the rule, the Treasury Department said in a statement. The administration of President George W. Bush has been accused of seeking to rush the regulations through before its term expires in January 20, 2009.

The law passed in 2006 was aimed at putting teeth into a de facto ban on US residents placing online wagers in locations such as Britain, Canada, Antigua and Gibraltar.

But the US ban on Internet gambling has been challenged as an unfair trade restriction at the World Trade Organization.

The European Commission has also launched an investigation into whether the US gambling ban discriminated against EU firms.

kennex · #8 (**permalink**) 11-13-2008, 06:36 AM

I am happy ....I really like it ....More dumber regulations could not have been written by Bush himself

I dont think anybody takes him serious anymore!

Manne · #9 (**permalink**) 11-13-2008, 08:17 AM

Quote:

Originally Posted by kennex

I am happy ....I really like it ....More dumber regulations could not have been written by Bush himself

I dont think anybody takes him serious anymore!

Nothing Changes

Manne · #10 (**permalink**) 11-13-2008, 02:06 PM

Quote:

Originally Posted by kennex

I don't think bush will do that before he leave the white house. Banks are in a desperate need for transactions to establish their assets.

No way

The American people are sending Barack Obama to the White House to bring real change to Washington. Real change begins by building an open and transparent government and seeking input from all Americans.

Contact Obama: Change.gov | Contact the Transition