UIGEA ruling pending.

bartongrl1 · #1 11-24-2009, 12:20 AM

Barney Frank and his backers have sent letters to Timothy Geithner who is Treasury Secretary and Chairman of the Federal Reserve, Ben Bernake.

If the letter is answered in the way Mr. Frank and backers want, Geithner will use the Admistrative Procedure act to delay the UIGEA rules until December 1st of 2010.

The UIGEA rules were approved one day before our new president took office. And Mr. Frank has also pointed out what we already knew, that this would be a real burden to financial institutions at a time when there are already enough burdens on the banking system as it is.

ClassyTouch · #2 11-24-2009, 06:34 PM

You can read the whole story on this here!! It will get thrown out you watch and see..The article is the second one one the page.

stacy123 · #3 11-25-2009, 08:28 AM

The whole UIGEA thing needs to go! It's totally unfair in my opinion and I am really sick of being told where I can spend the money that I have earned. If I want to gamle it online then that should be my choice, not the governments. What really burns me is that I pay the the government and they turn around and tell where I can and cannot spend whats left of my money after they get their cut! Somethings wrong with this picture!

ClassyTouch · #4 11-25-2009, 05:39 PM

I think that Barney Frank will win this one!! It may take a little more time for the vote to comer out after the hearing, but the outlook is good, and that is what matters.

ClassyTouch · #5 11-27-2009, 05:05 PM

WooooHOOO!!!! Barney Frank got the laws that were suppose to take effect on December 1st postponed for 6 months!!! This will give him and everyone else time to get more support and get the UIGEA thrown out and to license and regulate online gambling. This is very goos news for banks and the online industry!