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The Bush administration issued regulations to enforce the law in November 2008 and had set Dec. 1, 2009, as the date financial institutions would have to begin complying.
However, in a joint notice Friday, Treasury and the Fed said that several members of Congress had sought a delay, arguing that there was considerable support for new legislation to clarify the current laws.
The government needs to revoke this. I cannot believe that a republican controlled congress, who are supposed to be against government interference, passed such a stupid bill that Bush made. Its anti-business and anti-freedom. Clearly catering to religious nutjobs who want to enforce their values one everyone else.
Clearly catering to religious nutjobs who want to enforce their values one everyone else.
As far as I know the only legal online gambling in the US is a relatively small market for horse track racing.
The feds, states and local government make a mint off other legalized forms of gambling such as state lotteries, casinos, horse racing etc. If they allow online gambling they'll have to let these offshore operations in and won't make a penny from those sites except the proceeds of winners.
The government needs to revoke this. I cannot believe that a republican controlled congress, who are supposed to be against government interference, passed such a stupid bill that Bush made. Its anti-business and anti-freedom. Clearly catering to religious nutjobs who want to enforce their values one everyone else.
And that's what we get with today's Republican Party. They say they want to let people live their lives without government interference, but it's mostly a lie. They have a conservative social and moral agenda - freedom be damned.
If the Republican Party got off of their moral high-horse, I could occasionally support their candidates. For now, the people in control of the Republican Party are social conservatives. Bush couldn't have won without them.
The UIGEA (the bill in question) proved beyond the shadow of a doubt the utter stupidity and hypocrisy of the Republican agenda. The fact that they snuck it into law without comment or debate, late at night as an addendum to an important homeland security bill tells us all we need to know about the sleaziness of their aims and goals. Glad Barney Frank, Bob Menendez and others in Congress are dealing with this issue prudently and intelligently.
"This will give us a chance to act in an unhurried manner on my legislation to undo this regulatory excess by the Bush administration and to undo this ill-advised law," Frank said in a statement
I wonder why the grandstanding Frank hasn't issued a statement like this concerning the present healthcare bill debacle being rammed through the chutes.
Hypocrite extremus.
I wonder why the grandstanding Frank hasn't issued a statement like this concerning the present healthcare bill debacle being rammed through the chutes.
Hypocrite extremus.
Maybe because the UIGEA bill is an idiotic piece of legislation that should never even have been drafted, while we as a nation have needed action to deal with a crisis in access to healthcare for quite some time now.
Are there any thinking liberals in this world left? The reason why internet gambling is bad, is because its unregulated, and illegal. There is absolutely nothing to keep these internet gambling sites "honest", and since gambling is regulated by the states, and illegal in most states (including online gambling), enforcement of the law has nothing to do with a Dem/Rep issue, its all about making sure some internet gambling site doesnt outright just rip individuals off with dishonest "gambling"..
As far as I know the only legal online gambling in the US is a relatively small market for horse track racing.
The feds, states and local government make a mint off other legalized forms of gambling such as state lotteries, casinos, horse racing etc. If they allow online gambling they'll have to let these offshore operations in and won't make a penny from those sites except the proceeds of winners.
Thats just it, they cant allow online gambling until they figure out a way to regulate it, tax it, and to keep it honest, so that when you lose your money, its lost without some programmer writing defrauding sites which are setup so you cant win against them..
I believe most of those sites are run but some pretty big legitimate corporations, Of course you could have some bad one as well but the cream would rise to the top and that's where people would go. Without the taxes they could actually run a much greater profit and offer better payouts.
The "bad business" scenario is certainly plausible but unlikely on a large scale because they would get weeded out.
The first question is, does the casinos actually pay this percentage out? A verification certificate (usually found on the home page of the casino website should confirm this). Such certificates are valid and genuine only if issued by independent organizations - any of the top 3 authorities - the Online Players Association (OPA), PricewaterhouseCoopers (PWC) and eCogra (e-Commerce Online Gaming Regulation and Assurance). Once a casino has made the effort of obtaining certification from one of these bodies, a player can be confident that the casino maintains a strict code over its practices and its software and is committed to fair gaming with truly random RNG and an honest payout percentage rate.
The prohibition of IG is exactly this,a prohibition,illogical & dictatorial...
If a referendum was held,a (slim) majority in almost all states would vote to repeal the ban...
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