Friday, April 27, 2007

All In

I'm not sure about the political wisdom of this, but it is without hyperbole the most important piece of legislation since, uh, say this one.
Representative Barney Frank, the Democratic chairman of the House Financial Services Committee, introduced legislation that would allow online gambling in the U.S., loosening a ban enacted last year.
The measure would allow Americans to bet online with licensed Internet operators that have safeguards against underage and compulsive gambling and agree to be subject to U.S. jurisdiction and taxes, Frank said at a press conference in Washington.

As we all know, football season rapidly approaches, and it makes me feel dirty giving out my checking account number to some anonymous guy in the Caribbean. Giving some anonymous guy in the Caribbean my credit card numbers is totally cool.

1 comment:

S.W. Anderson said...

Franks is a very bright, very well-informed and able legislator. My regard for him keeps me from rejecting this proposal out of hand.

Still, bright, able people come up with clunker ideas. I think that's what happened here. He obviously wants to get some kind of grip on the gambling biz that's going on anyway.

The problem is, our government can't seem to get a good many of our trading partners to play by the rules. We're supposed to assume somehow it can deal effectively with foreign-based betting rackets? I don't think so.

As far as his Libertarian-like take on how gambling doesn't hurt others, just look into some of the horror stories about people who've lost a marriage, home and/or business because of their compulsion to gamble.

Bottom line: Congress shouldn't give this sucker idea an even break.