ucking:
All we can do is wait and see what passes.
Any law that passes goes to some subcommittee that takes anywhere from a few months to a year to have hearings on it and discuss it and write it up properly.
If the law that passes makes gambling illegal, it would likely be 3-6 months after W signs it for it to go into effect. This assumes no one challenges its constitutionality in court. Either an individual or more likely banks.
If the new law only deals with banking, it will be at least 270 days as the bill gives banks 270 days to figure out how to do this. I would guess the 270 days would come after the 3-6 month period where they discuss it and write it up properly, but I have no idea. Most likely banks would either file suit in court to appeal this or they would ask for countless extensions to figure out how to deal with this.
What will be really interesting is when the big banks simply go to congress and say we have no way to enforce this - here are our computers and records - you guys enforce it.
Sean
Any law that passes goes to some subcommittee that takes anywhere from a few months to a year to have hearings on it and discuss it and write it up properly.
If the law that passes makes gambling illegal, it would likely be 3-6 months after W signs it for it to go into effect. This assumes no one challenges its constitutionality in court. Either an individual or more likely banks.
If the new law only deals with banking, it will be at least 270 days as the bill gives banks 270 days to figure out how to do this. I would guess the 270 days would come after the 3-6 month period where they discuss it and write it up properly, but I have no idea. Most likely banks would either file suit in court to appeal this or they would ask for countless extensions to figure out how to deal with this.
What will be really interesting is when the big banks simply go to congress and say we have no way to enforce this - here are our computers and records - you guys enforce it.
Sean
