ken_p (![[info]](http://l-stat.livejournal.com/img/userinfo.gif){kind=small} ken_p) wrote,@ 2006-10-02 12:35:00 |
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Keeping my head in the sand
That is better than the other spot it often resides.
First off, you and I aren't headed for the slammer. The bill addresses moving money and little more. Can the government outlaw Neteller--which has 1700 sites that use it and a limited number are gambling sites. If I can buy a book or a pair of socks using Neteller then the government can't stop my bank sending money to it. To do otherwise would be restraint of trade.
Is it in the interest of any offshore entity to cooperate with this law? What they are doing is not illegal in their jurisdiction. They don't fill out W2-G forms now. They have been breaking U.S. law with impunity since the start.
The banking industry process millions of checks a day. Is it likely they can review each of those checks for legality under the new law? Do you realize the software involved and liability associated with making a mistake? EFTs are just as difficult. And each of these is part of a network of very secure software that's revision each time exposes the banking community to huge liability. You don't make sweeping changes in 270 days with these kinds of transaction facilitators.
I would say that if you want a decent gamble then buying some of the highly damaged stock will be a decent play in about 3 days. Of course this isn't investment advice. I am not a gambler in the market but it sure looks like a better shot than a sports/race bet.
There are a couple of looks that I'll recommend here:
Craig Cunningham made a very nice post about all the other things that would be impacted if this works out.
http://ccexplore.pokerworks.com/200
And, Attorney Michael Craig goes on one of his rants about this silliness at:
http://craigsjournal.pokerworks.com/200
The best is an analysis by a professor with a background in gambling law:
http://www.billrini.com/2006/10/02/prof
And Allyn Shulman adds a bit of info in a brief piece at:
http://www.cardplayer.com/poker_news/ne
That is better than the other spot it often resides.
First off, you and I aren't headed for the slammer. The bill addresses moving money and little more. Can the government outlaw Neteller--which has 1700 sites that use it and a limited number are gambling sites. If I can buy a book or a pair of socks using Neteller then the government can't stop my bank sending money to it. To do otherwise would be restraint of trade.
Is it in the interest of any offshore entity to cooperate with this law? What they are doing is not illegal in their jurisdiction. They don't fill out W2-G forms now. They have been breaking U.S. law with impunity since the start.
The banking industry process millions of checks a day. Is it likely they can review each of those checks for legality under the new law? Do you realize the software involved and liability associated with making a mistake? EFTs are just as difficult. And each of these is part of a network of very secure software that's revision each time exposes the banking community to huge liability. You don't make sweeping changes in 270 days with these kinds of transaction facilitators.
I would say that if you want a decent gamble then buying some of the highly damaged stock will be a decent play in about 3 days. Of course this isn't investment advice. I am not a gambler in the market but it sure looks like a better shot than a sports/race bet.
There are a couple of looks that I'll recommend here:
Craig Cunningham made a very nice post about all the other things that would be impacted if this works out.
http://ccexplore.pokerworks.com/200
And, Attorney Michael Craig goes on one of his rants about this silliness at:
http://craigsjournal.pokerworks.com/200
The best is an analysis by a professor with a background in gambling law:
http://www.billrini.com/2006/10/02/prof
And Allyn Shulman adds a bit of info in a brief piece at:
http://www.cardplayer.com/poker_news/ne
