Politics
Senate Reacts Following Spencer Bachus Insider Trading Allegations
Following a segment that aired on “60 Minutes” claiming Congressman Spencer Bachus (R-Ala.) engaged in insider trading during the height of the financial crisis, Senate Homeland Security and Governmental Affairs Chairman Joe Lieberman (I-Conn.) and panel ranking member Susan Collins (R-Maine) announced Wednesday they will hold a hearing on the issue, which has been stuck in Congress for more than five years.
From TheHill.com:
Alfonse D’Amato Comments on Friday Internet Poker Hearing: Responds to Lottery Concerns
Former Senator Alfonse D’Amato, Chairman of the Poker Players Alliance (PPA), the leading poker grassroots advocacy group with more than one million members nationwide, offered the following comments in response to issues raised during today’s House Energy and Commerce Subcommittee on Commerce, Manufacturing, and Trade hearing on internet gaming.
Friday Hearing on Internet Poker: Can We Still Control Offshore Gambling Sites?
A November 18, 2011 Subcommittee on Commerce, Manufacturing and Trade hearing discussed the potential pitfalls of legalizing Internet poker in the United States. Issues raised included under age and problematic gambling along with cheating mechanisms. Additional coverage of Friday’s hearing, which concluded at 11:09 am EST could be found on the Gambling911.com website.
But what about the current multi-billion dollar online gambling industry that exists and what’s to stop these operators from continuing to extract business from licensed businesses in the States.
Joe Barton Testifies Before Subcommittee on Legalized Internet Poker (Live Streaming Video)
Texas Republican Joe Barton has drafted legislation that would legalize Internet poker in the US. He testified Friday November 18, 2011 before the Subcommittee on Commerce, Manufacturing and Trade. It was the second hearing on the subject over the past 30 days.
During the testimony, concerns were raised over the vulnerability of Web users who might access an online poker site.
“My experience (with poker players) is they excel in math. Not people who would be taken advantage of or need to be protected,” Barton said.
Barney Frank Urges Spencer Bachus: Take Up Bill On Insider Trading (Video)
Massachusetts Democrat Congressman Barney Frank on Thursday sent a letter to Alabama Republican Congressman Spencer Bacchus urging him to take up a bill that would prohibit members of Congress and federal workers from trading on non-public information that they’ve obtained through their jobs.
A “60 Minutes” report suggested that Bachus engaged in “insider trading” during the height of the financial crisis.
Strange Bedfellows: Jon Kyl and Harry Reid New Internet Gambling Bill
The New York Post is reporting that Republican Jon Kyl and Democrat Senate Majority Leader Harry Reid are working on a new Internet gambling bill. The significance of this cannot be overstated.
PPA Chairman Alfonse D’Amato Testimony Before Senate Committee re: Internet Poker
Former Senator Alfonse D’Amato, Chairman of the Poker Players Alliance (PPA), the leading poker grassroots advocacy group with more than one million members nationwide, today testified before the Senate Indian Affairs Committee on the future of online gaming and its potential impact on Indian tribes.
Oversight Hearing on the Future of Internet Gaming Witness List: Starts 2:15 Nov 17, 2011
The Oversight Hearing on the Future of Internet Gaming: What’s at Stake for Tribes? Witness list appears below.
This is a critical hearing that will take place in the Senate. The Indian Tribes are among the most powerful lobbying groups in DC and they absolutely require appeasement if legalized Internet poker is going to happen in the US.
Already in California, we have seen the Tribes accept the inevitable and soften their stand to work more closely with parties seeking regulation.
US Presidential Hopeful Ron Paul Polling 2nd in Iowa (Video)
GOP hopeful and someone who has vehemently pushed for legalized online gambling in the US over recent years, Ron Paul, is polling 2nd in Iowa after Herman Cain. This isn’t a distant second, it’s extremely close.
Spencer Bachus: 60 Minutes Segment a Hit Job
Alabama Republican Congressman and strong advocate for online gambling prohibition, Spencer Bachus, denied he engaged in any form of “insider trading”. He called a “60 Minutes” segment that suggested otherwise “a hit job”.
The segment aired on Sunday. The reporting was based on a book by conservative author Peter Schweizer called “Throw Them All Out.” Rep. Spencer Bachus (R-AL), the chairman of the House Financial Services Committee, was alleged to have traded stocks after he was told by Treasury officials in September of 2008 of the impending financial meltdown.
Bachus Back Against The Wall: "I'm not Going to Let People Distort What I Do.”
While much of the attention on an “insider trading” scandal in the Congress has focused on Alabama Republican Spencer Bachus (perhaps rightfully so), this ardent supporter of online gambling prohibition wasn’t exactly alone in his craftiness.
Both Speaker John Boehner and former Speaker Nancy Pelosi also have egg on their respective faces right now following the airing of a “60 Minutes” piece this past Sunday.
Two Hearings on Internet Poker Scheduled for This Week
It’s a busy week for the Internet poker sector as two hearings will be held in Washington regarding the legalization and regulation of the activity in the USA. A previous hearing took place last month.
Thursday November 17 there will be a Senate Committee hearing that will focus exclusively on Indian affairs called “The Future of Internet Gaming, What’s at Stake for Tribes?”
Calls for Spencer Bachus Resignation Following 60 Minutes Insider Trading Report (Video)
He is the most outspoken critic of legalized online gambling while remaining mostly silent on more serious issues like Wall Street insider trading. Now we might know why he has avoided delving into the later subject.
There is a public outcry for the resignation of Alabama Republican Congressman Spencer Bachus following a 60 Minutes report that aired this past Sunday linking him to the receipt of nonpublic information as a means of gaining an edge in the stock market (a la “insider trading”).
Newt Gingrich Latest Odds to get GOP Nomination
Newt Gingrich has shot up the polls and is trailing just behind Mitt Romney in recent polls. The surge has accompanied Herman Cain’s drop in the polls after a handful of women alleged sexual harassment during the late 1990’s while Cain headed up the National Restaurant Association.
Gingrich still had some value at 4/1 odds at Sportsbook.com, which allows for wagering on the Internet.
Follow Up Hearing On Internet Poker Scheduled
The US Government is inching closer to legalizing Internet poker as a follow up hearing has just been scheduled for November 18. Once again, the House Subcommittee on Commerce, Manufacturing and Trade will oversee the hearing. A list of speakers is yet to be finalized.
Last month’s hearing focused mostly on the pros of online poker with concerns expressed over Indian gaming sovereignty, under aged gambling and collusion in card rooms, specifically how to prevent so-called “bots”.
Herman Cain at 5 to 1 Odds Despite Sharon Bialek Accusations
New Amendments for Nevada Online Poker Released
In anticipation for legalized online poker in the state of Nevada, regulators released new draft amendments that include the ability for operators to cover funds in the event of a shutdown.
The agreement calls for a “federally-insured financial institute” to hold a reserve.
Rick Perry Hates Gambling But Bets World Series
Texas Governor and Republican Presidential candidate Rick Perry, who has repeatedly said he is against all forms of gambling, has been telling what's known in Texas as a tall tale.
A tall tale--a polite way to say a lie--about gambling, no less.
Gambling911.com, as part of its continuing series on how the Presidential candidates stand on gambling issues, last month reported how Perry, during his tenure as governor of Texas, has opposed the expansion of gambling at every turn in the Lone Star State.
Alfonse D’Amato Distances Himself From Full Tilt Poker
It’s no secret to those who have covered the online poker industry for the past couple of years that Full Tilt Poker was a major contributor to the Poker Players Alliance, a grass roots organization chaired by former New York Senator Alfonse D’Amato.
Bipartisanship in the Congress It’s Happening With Online Poker Debate
For those of you looking for bipartisanship in Congress, look no further than the debate over legalization of online poker in the US.
Tuesday morning featured a hearing in the .S. House of Representatives’ Subcommittee for Commerce, Manufacturing, and Trade to discuss the issue and listen to witness testimony. Legalized Internet poker is expected to bring billions of dollars to a troubled US economy and members from both sides of the aisle tend to agree.
Age Verification, Bots and Native American Sovereignty Discussed at Online Poker Hearing
Much of the discussion during a highly anticipated House Energy and Commerce subcommittee hearing on legalized Internet poker in the United States focused on underage gamble and how to prevent cheating online.
Parry Aftab, Board of Advisors Chairman for FairPlayUSA, and Rep. Cliff Stearns (R-Florida) noted that tools were in place to help curb underage gambling though many on the panel admitted nothing is fool proof.
Subcommittee Hearing for Legalized Internet Poker Live
As promised the live stream for Tuesday morning’s Subcommittee hearing to legalize Internet poker in the US is available here.
Among those testifying, former Republican New York Senator and Poker Players Alliance Chairman Alfonse D’Amato and Texas Republican Congressman Joe Barton, who has presented the bill to regulate and license online poker in the States.
Live Streaming Video Expected for Internet Poker Hearing
For those Gambling911.com readers looking to watch the Tuesday October 25, 2011 subcommittee hearing on Internet poker legalization, the House Energy and Commerce Committee website was expected to have a live video streaming link up top at the start of the hearing 10:30 am EST.
Mormon Church Hates Gambling: Mormon Politics Does Not
Two of the contenders for the Republican nomination for President of the United States are members of the Mormon religion: former Massachusetts governor Mitt Romney and former Utah governor Jon Huntsman.
Other top American politicians are also Mormons, including Harry Reid, a Democrat who is a U.S. senator from Nevada and the Majority Leader in the U.S. Senate.
With Mormons in such positions of political power, Gambling911.com readers might be wondering just what is the Mormon position on gambling?
The short answer: they're against it.
PPA Head Alfonse D’Amato to Testify Before House Subcommittee Tuesday re: Online Poker
Former New York Senator and Poker Players Alliance Chairman Alfonse D’Amato is scheduled to testify on Tuesday (October 25, 2011) before the House Energy and Commerce Subcommittee on Commerce, Manufacturing, and Trade on the need to establish federal licensing and regulation of online poker. The hearing was announced last week and kicks off at 10:30 am EDT.
Texas Republican Congressman Joe Barton’s Online Poker Act of 2011 will be discussed during this hearing and witnesses will be brought forward.
Poll Shows New Jersey Residents Would Overwhelmingly Approve Sports Betting
If the election were held today, an amendment to the New Jersey Constitution allowing gambling on sporting events in Atlantic City casinos and at the state's race tracks would easily win approval, according to a new Rutgers-Eagleton Poll released Wednesday.
Rutgers-Eagleton Poll results: NJ sports betting vote
Billionaire Banker, High Stakes Poker Player Andy Beal a Ron Paul Supporter
Billionaire banker Andy Beal has contributed $2500 to the US Presidential campaign of Texas Congressman Ron Paul, Gambling911.com has learned. Beal is also a high stakes poker player.
Paul, who is running against the likes of Mitt Romney, Michele Bachman and Rick Perry to win the GOP nomination, has long been a staunch advocate of legalized Internet gambling in the US.
Hearing on Internet Poker to be Held in DC Next Week
The U.S. House of Representatives’ Subcommittee for Commerce, Manufacturing, and Trade is scheduled to hold a hearing on Internet poker next Tuesday, October 25, 2011. Texas Republican Congressman Joe Barton’s Online Poker Act of 2011 will be discussed during this hearing and witnesses will be brought forward.
The Poker Players Alliance, which revealed the upcoming hearing, will be meeting with members of the subcommittee and various staff members.
Another President Bush: Jeb Hates Gambling (Sometimes)
Bush for President?
No, not that one.
He served two terms and can't serve any more.
And not his father either, who served one term and then was kicked out of office by the voters.
The Bush who's generating some political buzz on the presidential front these days is none other than the "other" Bush--Jeb Bush--who served as governor of Florida from 1998-2006 and is the 43rd President's older brother and the 41st President's son.
Politico.com: Unlikely Duo Working on Internet Poker Measure for Subcommittee
Ultra conservative Republican Joe Barton and Liberal Barney Frank are working on a bill that would legalize Internet poker. They are in the process of presenting their measure to a subcommittee in charge of slashing the deficit.
Ironically, a member of this chosen subcommittee is none other than Jon Kyl, the Republican outgoing Senator from Arizona who authored the current online gambling prohibition.
