Bush Scores Last Touchdown Pt 1

The soon to be extinct Bush Administration is seeking to implement and finalize regulations to enforce a ban for banking institutions to stop illegal money transfers for Internet gambling found to fall under the UIGEA bill.

I smell more than just pigskin here...
With a strong rush to get this approved before the incoming Obama administration, the previous NFL lobbyist William Wichterman, who was appointed by President Bush himself as the Deputy Director of Public Liasons, had put considerable pressure to speed up the proceedings before it is too late.

Wichterman opposes all forms of Internet gambling, except fantasy sports, which generate more than $1 billion a year - hmm... fancy that; NFL lobbyist supporting fantasy sports betting.

Previously, the Bush administration had committed to not issue final regulations on any bills past November 1, 2008 except in "extraordinary circumstances." One has to question then, is this move "extraordinary" or is this just pushing a hidden agenda once again, which has become quid pro quo in the Bush administration?

When even the banks are unconvinced...
The Federal Reserve and Treasury have both stated that the enforcement for banking institutions and the UIGEA enforcements is not workable and inherently flawed. It will cost banks more money and time and in the midst of a severe financial crisis, what sense does this make?

Wayne Abernathy, American Bankers Association's executive vice president of financial institutions policy and regulatory affairs states that, "The UIGEA and the Proposed Rule do not provide a rational path towards halting unlawful Internet gambling."

Time to break out the champagne?
Looks like Bush and his administration is looking for one last horrah for a bill that was flawed from the beginning and with representatives led by Barney Frank (D-Mass) lobbying for clarity and regulation of Internet gambling, we may soon see the end of the infamous UIGEA bill.