"a friend of the online gambling industry.... helped his campaign war chest, too. Casino and gambling interests have contributed $56,400 in 2009"
Related: Bankers' Best Friend
"Frank gets delay in law restricting Net casinos; Congressman favors legal online betting" by Jeremy Herb, Globe Correspondent | December 14, 2009
WASHINGTON - US Representative Barney Frank doesn’t gamble.
Yes he does: Barney Frank Benefited From State Debts
But he said he does not want the government telling people what to do with their own money.
He says this as he and his carve up our taxes? What a disingenuous PoC!
Frank has established himself as a friend of the online gambling industry by seeking to overturn a 2006 law that will make it illegal for US credit card companies to process charges from Internet gambling sites.
Related: Frankly Speaking
Always serving his masters, isn't he?
The law, intended to cut off the life blood of the $16-billion-a-year online gambling industry, was scheduled to take effect Dec. 1. But last week, the Federal Reserve and the Treasury Department pushed back the effective date until June to give Frank and other gambling supporters time to draft a bill to set up a system to regulate and collect taxes from legal online gaming.
Oh, so BARNEY and the FED are NOT LOOKING OUT for YOU at all, American gambler! They are LOOKING OUT for BANKS AGAIN!!!
The Obama administration is officially neutral on the issue of Internet gambling but said it granted the delay because of the “considerable interest in Congress in clarifying the laws.’’
While Frank has been too busy with financial reform to work on gambling this year, advocates are hoping they can ride the momentum from last week’s decision to argue that online gambling can become a moneymaker for federal coffers.
What about weed, Barney?
A recent report from the Joint Committee on Taxation found the Internet gambling could generate up to $42 billion in tax revenue over the next decade.
And yet, the PLAYERS LOVE HIM(?)!
“We love him,’’ said Martin Shapiro, a professional online poker player from Florida. “What Barney Frank is doing is wonderful.’’
Gross.
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Gambling opponents are frustrated the administration agreed to the delay. Senator John Kyl of Arizona and Representative Spencer Bachus of Alabama argue that legalizing online gambling is a threat to children and teenagers, who can easily log on and become addicted.
Yeah, leave it to Barney to wreck something good the Repugs did.
“Any economic benefit from taxing Internet gambling would be more than offset by the harm it causes our young people,’’ said Bachus, the ranking Republican on the Financial Services Committee. “What we have is a wave of young Americans who are addicted to gambling.’’
Yeah, I knew a kid in college who got deep into debt; his parents had to pay off the bookies.
Frank has introduced three bills since 2007 that would nullify the Unlawful Internet Gaming Enforcement Act, which Republicans passed on the final day of the 2006 congressional session. Frank also sent a letter with 18 others in his committee that led to the delay. Frank was brought in to Las Vegas at this year’s World Series of Poker to announce, “Shuffle up and deal’’ - poker’s version of “Start your engines.’’ Frank received a loud ovation, said John Pappas, executive director of the Poker Player’s Alliance.
Fine, you guys want to screw yourselves, forget you!
“If anyone is a poker player, particularly an online poker player, they know the name Barney Frank,’’ Pappas said. “A lot of people would say, ‘I’m not sure I agree with Barney on everything, but he’s . . . right on this poker issue.’ ’’
Until you see that tax charge on your credit card statement, right?
Shapiro said he voted for President Bush in 2004 and always supported Republicans, but his allegiance, along with other conservative poker players, changed after Republicans passed UIGEA in 2006. “It seems like what Barney Frank is saying is more along the lines of our personal beliefs,’’ Shapiro said.
Talk about a ONE ISSUE, TUNNEL-TRACK MIND!
Frank’s stance has helped his campaign war chest, too. Casino and gambling interests have contributed $56,400 in 2009, according to the Center for Responsive Politics....
Nearly all online gambling companies operate offshore, outside of US jurisdiction....But we can sanction any country we want, blah, blah, blah.
Frank’s push to legalize the business has made temporary allies out of Frank and the financial sector, at the same time that he is fighting to reform Wall Street.
PFFFFTTT! They were and are allies, lying Globe puke!!!!
The financial sector has been critical of the 2006 rules because they have been asked to enforce an unclear law, said Floyd Stoner, a lobbyist at the American Bankers Association. His organization also asked the Federal Reserve and Treasury to delay UIGEA. “We’re not for or against legal gambling on the Internet,’’ said Scott Talbott, head lobbyist at Financial Services Roundtable. “The problem is the bill asked banks to be cops. We should not be the enforcement arm of the US government.’’
The truth is, as a libertarian I am against the regulations; however, I am also for local control of things meaning NO CASINOS!
The antigaming law granted some exceptions, including one on horse racing, to the ban on gambling-related credit-card transactions on the Internet.
I'll bet I know who got that inserted.
Related:
"The tax package includes several elements sought by powerful lawmakers, including a tax break for race horse owners important to Mitch McConnell of Kentucky, the Senate minority leader"
But the law also did not define how banks should differentiate between legal and illegal gambling. Subsequent compliance guidelines from the Federal Reserve and Treasury have not made a clear distinction. Last month,
Told ya!
MasterCard changed course and said it won’t block the transactions, and a spokeswoman said it is using the delay to determine what type of Internet gambling is legal....
Let's make it ALL ILLEGAL and REMOVE that CRIMINAL SCOURGE from our society, huh?
Here is someone who may not want Barney's bet:
"Frank backs Sestak over Specter in Pa. at a Philadelphia news conference:
“Joe Sestak is a true Democrat who cares about the working families that have been hit hardest by the failed economic policies of the Bush administration. He’ll be a reliable vote for Pennsylvania’s next generation instead of having the same loyal Bush Republican we’ve seen over the past generation. I have to say I don’t think it did our profession any good for someone to announce that he switched parties purely so he could survive.’’
PFFFFT!
Seeing as we have gotten NO CHANGE, Barn, the BUSH ANALOGY seems RIDICULOUS if not OUTRIGHT LAUGHABLE!!!
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