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March 10, 2008

Remember that UIGEA bill?

Remember back when lame duck republicans pushed the UIGEA legislation onto the PORT AUTHORITY ACT to placate the Religious Right?

You have to remember... thats when MOST Of the major Poker rooms STOPPED allowing US players... IE: Party Poker....

The UIGEA was supposed to impose restraints on the banking industry in an effort to stop US Citizens from funding their online poker (gaming) accounts.

Well... here is a small exerpt from a statement made by the American Banking Association (ABA) on that rediculous piece of legislation:

"ABA believes that the proposal, in large part due to the nature of the statute itself, will fail to create a practical process for intercepting prohibited conduct that maintains an efficiently functioning payments system." The above was shortly followed by a statement more damning: "(W)e believe that UIGEA will in the end catch more banks in a compliance trap and do greater damage to the competitiveness of the American payments system, than it will stop gambling enterprises from profiting on illegal wagering."

In another part of their statement they get even harsher in their criticizm:

"In other words, in the view of the drafters of the legislation, all the sophistication of the FBI, Secret Service, and other police computerized detection systems and investigative expertise devoted to fighting terrorism and financial crime are inadequate to the task of apprehending the unlawful gambling business or confiscating its revenues. ABA believes that punting this obligation to the participants in the U.S. payment system is an unprecedented delegation of governmental responsibility with no prospect of practical success in exchange for all the burden it imposes."

Isn't it about time that our (mostly) useless legislators get off their collective asses and just legalize online poker and quit trying to impose their sense of morality on law abiding citizens????

Posted by fatbill at March 10, 2008 09:03 AM


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