GAMBLING RESTRICTIONS
The last few days of political action have been quite telling for those interested in the potential for any offshore gambling restrictions. According to insiders, the prospects for the Kyl, Leach, and Goodlatte bills have taken a major hit.
LAS VEGAS - During this week's hearing regarding the Goodlatte Bill, previously quiet opposition arose. Representative Goodlatte and his cronies figured anti-gambling legislation was an easy way to cleanse the past sins of his party's connections with Jack Abramoff and to continue a push towards a more morally restrictive policy. Republicans pay lip service in hopes of gaining both independent and swing voters. However, when it comes down to it, they mostly still cater to the far right. Such a plan seemed to point to a relatively easy passage because of healthy majorities in congress. While very few in political circles have truly seen the need for banning online gambling, even fewer politicians were thought to oppose such actions. Politicians only need to bring up todays strong buzzwords of fighting terrorism and protecting families and any bill has a decent shot at passage. The proposed bills in this session have heartily taken to this approach. So, when Goodlatte's bill had a date this week with a House Judiciary sub-committee, he expected only mild commentary mostly in support of his efforts before scheduling a vote for the full committee after an upcoming two week holiday break. Instead, he ran into opposition from small banks and a fellow representative. Banks, under the provisions of the Leach and Kyl bills and to a degree under the Goodlatte bill, would be the main defense against offshore gambling operations. Imagine the many ways one can presently send money to fund an offshore account. Put yourself in the bank's shoes. Would you want to have to keep an eye on all methods, plus all the emerging ways the offshore industry could create to receive money? It is a logistical nightmare. It is impossible for banks to review and know every potential recipient of their wire transfers and checks. Nobody sends a check or wire transfer to Acme Sports Book. The receiving end is always some generic sounding investment group with no hint as to its main line of business. The standard for banks is to know their customers. It is not to know the associates of those customers. Furthermore, the bill was attacked by Representative Bobby Scott, a Democrat from Goodlatte's home state of Virginia. Scott had never been on record as opposing these bills. He brought up arguments that were backed by the smaller banking lobby, attacking the bill for creating nightmares for regulators and bankers. Scott appears to be playing politics. Further evidence of the political situation was seen in the senate this week as well. A tough compromise was reached on the immigration issue, only to fall apart less than 24 hours later. Most say it is a strategy of the Democrats to prevent any victories for Republicans going into November's elections in hopes of reclaiming control of the Senate. A rocky sub-committee meeting and a seemingly unrelated mess on the other side of Congress dont seem like much. But both point to potential failure for the anti-gambling bills this year. A Democrat from Goodlatte's state making trouble for him seems to most a very political move. Just the mere presence of opposition to the bill will make it difficult to pass with time running short. Congress current session has about 50 days remaining. In the short period of time remaining, there are going to be fights over every bit of legislation, with partisan politics being the rule of the day.
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