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Message: [QUOTE="kaiWalk, post: 895660, member: 24918"] It's actually a very inflammatory article relying on innuendo and ignorance to make a point. The payment processing industry is a shady business. I was the operations manager for a payment processor (I left once I was brought up to speed on the true nature of the business) & we used to handle deposits & withdrawals for a gaming site that many board members use. Shutting down an unlicensed business is hardly a loophole used to seize the funds of a gaming firm. A common practice among these payment processors is to resell the banking information used by depositors. Contrary to popular belief, they are not a pawn of the gaming industry; They are primarily used by online adult content providers and tele-marketers. Internet gaming is a relatively small percentage of their business. The DOJ should not be cast as the "bad guy" here. Senate Majority Leader Bill Frist attached the UIGEA to the already passed SAFE Port act, effectively bypassing debate or even a vote on the subject. (it only needed joint committee approval) The bill made it illegal for US financial institutions to accept or transfer funds to or from gaming sites, while not clearly defining what was gaming. There is considerable ambiguity in the text of the law, and it places the onus on the banks to prove that the transactions they process are legitimate. The UIGEA targets financial institutions, not gaming entities or users. Finally, 9/11/01, I worked for Morgan Stanley. Our operational headquarters was 2 WTC. I had 11,000 coworkers, some people I talked with everyday, in the second building that was struck. To equate the UIGEA with the loss of life, or even the loss of life-savings, due to the effect on the global financial markets, is short-sighted, ignorant, and purposely inflammatory. Please understand, I take issue with the author (propagandist) of the article, not you Wayschaff. [/QUOTE]

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