Twitter

You Gotta Know When To Hold 'Em...

Barney Frank favors online gambling -- for libertarian reasons?
Over the objections of gambling opponents in Congress, the Obama administration has granted a request by US Representative Barney Frank to delay a long-scheduled federal crackdown on illegal Internet poker and casino sites.

Frank sought the six-month reprieve so he could keep working on a pet issue: legalizing online gambling.

“I urged them to do it and I was very pleased,’’ the Newton Democrat said of the delay. “It gives us a chance.’’

You won’t find the chairman of the House Financial Services Committee at a poker table or roulette wheel, as Frank doesn’t gamble. But he said he does not want the government telling people what to do with their own money.

Frank has established himself as a friend of the online gambling industry by seeking to overturn a 2006 law that will make it illegal for US credit card companies to process charges from Internet gambling sites.

The law, intended to cut off the life blood of the $16-billion-a-year online gambling industry, was scheduled to take effect Dec. 1. But last week, the Federal Reserve and the Treasury Department pushed back the effective date until June to give Frank and other gambling supporters time to draft a bill to set up a system to regulate and collect taxes from legal online gaming.
My emphasis.

I may not agree with Barney Frank on much, but it seems to me that his thinking is correct on this issue. As long as there are safeguards in place to regulate the 'casinos' that are online, I see no reason in the legalization of such activities.

Thoughts?