ken_p (![[info]](http://l-stat.livejournal.com/img/userinfo.gif){kind=small} ken_p) wrote,@ 2006-10-01 07:40:00 |
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Your Ineptness
If you meet a Cardinal, you call him Your Eminence. If you hang with Kings you call them Your Highness. For the Congress, go with Your Ineptness.
This thing ain't agona fly. The law allows 270 days to implement and I can just about guarantee it will be extended and extended and the result will be clouded in fog.
The law addresses EFTs (Electronic Fund Transfer) which were implemented over a multi-year period by the Federal Reserve. Programming these kinds of things is very anal. When you are talking about transfers of multi-million amounts multiple times in a short timeframe, you don't allow changes to the code without testing and validation that is on a par with Government Most Secret. EFTs are also international. Will the Bank of England et al be willing to go to the expense and trouble to help a bunch of politicians make an election tick on their pamphlets? Given the international climate, I doubt the bill will be well received. And they have recourse to the WTO (World Trade Organization) that has already ruled that the U.S. is out-of-line against Antiquan poker operations. If England is granted the right of punitive tariffs the Congress will cave in like one of Arnold Schwarzeneggar's sissy boys.
There is going to be a ton of advise and worry about the bill. As laypersons in the world of law and international finance, we don't have a real clue. But, we're all aware that the online rooms don't pay any attention to existing U.S. law. If they did, they'd be providing info to the IRS about winnings. If they ignore that they will ignore the rest. Neteller looks to be unaffected in their off-shore location. They are a sham now and if they need to operate as a different sham then they will create that entity.
If you meet a Cardinal, you call him Your Eminence. If you hang with Kings you call them Your Highness. For the Congress, go with Your Ineptness.
This thing ain't agona fly. The law allows 270 days to implement and I can just about guarantee it will be extended and extended and the result will be clouded in fog.
The law addresses EFTs (Electronic Fund Transfer) which were implemented over a multi-year period by the Federal Reserve. Programming these kinds of things is very anal. When you are talking about transfers of multi-million amounts multiple times in a short timeframe, you don't allow changes to the code without testing and validation that is on a par with Government Most Secret. EFTs are also international. Will the Bank of England et al be willing to go to the expense and trouble to help a bunch of politicians make an election tick on their pamphlets? Given the international climate, I doubt the bill will be well received. And they have recourse to the WTO (World Trade Organization) that has already ruled that the U.S. is out-of-line against Antiquan poker operations. If England is granted the right of punitive tariffs the Congress will cave in like one of Arnold Schwarzeneggar's sissy boys.
There is going to be a ton of advise and worry about the bill. As laypersons in the world of law and international finance, we don't have a real clue. But, we're all aware that the online rooms don't pay any attention to existing U.S. law. If they did, they'd be providing info to the IRS about winnings. If they ignore that they will ignore the rest. Neteller looks to be unaffected in their off-shore location. They are a sham now and if they need to operate as a different sham then they will create that entity.
