Im almost in awe that we have a an honest to goodness healthy debate going here with no personal insults thrown in. Is that a Madjacks first? ;-)
I think the biggest reason the credit card companies complied and in fact wanted to comply is that they are simply getting killed on writeoffs and not necessarily that Spitzer had a gun to their head. Its a lot easier for them to just issue a blanket ban on using their cards than it is for them to try to regulate it. If I was the President of Visa I would do exactly the same thing, and frankly as a cardholder, I am glad they did it. Why? Because thats how fees get raised, thats how rates go up, thats how we end up paying more as law abiding citizens. Its no different to me than the people who steal cable or commit insurance fraud. The people who Visa has to write off cause the rest of us to pay more, its as simple as that.
As for whether or not there will ever be online gaming in the US, I admit I was once staunchly in your corner, that it will never happen. But slowly, and I do mean SLOWLY, there are cracks. I see Frank Fahrenkopf on cnnFn - President of the American Gaming Association - talking about online gaming. And now we have TVGNetwork, where in a half dozen states you can legally bet online on horse racing. I would not be surprised within five years if either an indian casino or large casino conglomorate had something online. Like I said its slow going. But the argument in the Senate right now in my brothers circles goes like this: well, there are tens of billions of dollars in revenue going offshore to books that no one knows that have and will close up shop in the middle of the night and make off with your money. People do it knowing how risky it is. Imagine if Foxwoods or MGM had an online site that we could regulate, make sure its on the up and up, how much more would people like that? Like I said its not going to happen tomorrow, but twelve months ago if I told you senior republican Senators are talking like this, you would have made me take a blood alcohol test.
Whats my honest belief? My honest belief is that nothing will ever happen. Maybe thats the cynic in me leaking out from 7 years living in Washington. I just think its the way the government works. Bills get dilluted to the point where they are either worthless and get canned or toothless and get passed.
Anyway Nolan, damn good to have you back around. I've been looking for a good book to read, know where I can get one?
