I have to roll my eyes every time someone points out that the proposed OTC derivatives reforms still preempt state anti-gambling laws. This is generally presented as some sort of obviously-ridiculous exemption that proves that Dodd, or Geithner, or whoever, is in the pocket of Wall Street. First, I suspect that, if asked, the majority of people complaining about state anti-gambling laws being preempted for OTC derivatives would say that they think anti-gambling laws are anachronistic holdovers from a more paternalistic era, and should be repealed. Second, state anti-gambling laws are famously (over)broad — for instance, New York Law § 5-401 (Gen. Oblig.) provides:

All wagers, bets or stakes, made to depend upon any race, or upon any gaming by lot or chance, or upon any lot, chance, casualty, or unknown or contingent event whatever, shall be unlawful.
Obviously, this could ensnare a whole host of contracts that we consider perfectly legitimate (e.g., insurance). So for this law to stay on the books, we need all sorts of exemptions and carve-outs for legitimate contracts which could nevertheless fall within § 5-401. Once we've decided at the federal level that OTC derivatives are legitimate financial instruments — and like or not, we have decided that — then preempting ridiculous state anti-gambling laws is perfectly appropriate.

The fact that the proposed OTC derivatives reforms preempt state anti-gambling laws is evidence of nothing other than that state anti-gambling laws are silly, overbroad relics.


uk bingo said...

definitely overboard. state anti-gambling laws will only escalate crime rates if pursued. numbers of both parties (anti and pro gambling) are almost even and majority of players/gamblers will attest to the legitimacy of this act that will eventually lead to disdaining state's moral function.

coach outlet sale said...

Such good post. I will recommend it on my own blog.

Anonymous said...

undoubtedly over the top. talk about anti-gambling buy D3 itemslegislation will only elevate crime charges in the event that went after. amounts of both sides (anti - along with professional gaming) are practically even as well as most of players/gamblers may attest to the particular legality of this behave which Cheap GW2 itemswill sooner or later lead to disdaining state's moral operate.

Autumn War said...

hey that's really a great post and i like this and thanks for sharing it with us!I have read a few of the articles on your website now because I was looking for information aboutgames App. and I really like your style of blogging.

Anonymous said...

android market
ekol hoca
twitter aç

texas holdem poker said...

Wow! What an eye opener this post has been for me. Nevertheless I think that the problem is not gambling but addiction to gambling ! A law doesn't resolve the matter !

Anonymous said...

I have been waiting for someone to share this post. This has actually made me think and I hope to read more.www.claimsid.co.uk |

www.positiveimagebank.co.uk |

www.bestweddingphotography.co.uk |

www.pauljamesconsulting.co.uk |

www.careers-at-benefit.co.uk |

www.tibrainvestmentmanagement.co.uk |

www.lucy-kent.co.uk |

www.cbd-research.co.uk |

www.savesolihullhospital.co.uk |

www.envirotrack.co.uk |

Anonymous said...

Thumbs up guys you are really carrying out a great job.agen sbobet

Anonymous said...

Kutil kelamin pada pria | obat penis mengeluarkan nanah | obat keluar nanah dari kemaluan pria | obat penis mengeluarkan nanah | menghilangkan kutil di kemaluan | cara mengobati kutil pada penis | obat kutil kelamin di apotik | obat kutil kelamin pada wanita | cara mengobati kutil pada penis | obat kutil kelamin di apotik | obat kutil kelamin pada wanita | cara mengobati kutil pada penis | obat kutil kelamin di apotik

Trần Duy Thuận said...

Trần Duy Thuận Blog đang cần nhận gia công tại nhà. Ai có cần người nhận gia công tại nhà tphcm liên hệ mình nhé. Truy cập vào đặt vé máy bay giá rẻ vietjet để có thêm kinh nghiệm khi đi máy bay nhé.

Unknown said...

I am just pretty happy to sign up ones own guestbook these days,Your own feedback and listed below are excellent in my opinion,incidentally I should say also definitely will teach some great supplements for your needs every. aventura condos for sale

Unknown said...

thuốc điều trị xương khớp cho mọi lứa tuổi, thích hợp với những người già đang bị loãng xương, có thể dùng thêm thuốc hỗ trợ tim mạch bổ trợ thêm, làm tăng tuổi thọ, sức khỏe.
Bạn đang tự ti về vòng 1 khiêm tốn của mình ? Đừng lo hiện nay đã có rất nhiều sản phẩm thuốc nở ngực an toàn đem lại hiệu quả tốt nhất cho các bạn
Bạn có thể xem them qua những sản phẩm: thuoc chong ung thu hieu qua
thuốc hỗ trợ điều trị sỏi thận
thuốc chống lão hóa
kẹo bỏ thuốc lá
kem trị rạn da

Robert Jennifer said...

I am happy to find this post very useful for me, as it contains lot of information. I always prefer to read the quality content and this thing I found in you post. Thanks for sharing. 2016 Honda Pilot

Robert Jennifer said...

I thin your blog will easily to reach the correct market place, because its having the good article. so it can easily to attract the visitors.OnSale

Unknown said...

You have made some really good points there. I checked on the web to find out more about the issue and found most people will go along with your views on this website.marketing

Lampu Hias Kamar Tidur Minimalis said...

Interesting post and thanks for sharing. Some things in here I have not thought about before.Thanks for making such a cool post which is really very well written.will be referring a lot of friends about this.

Unknown said...

Poster has been a absolute divulge in our alliance nigh after its universe besides hellos guidance resolution give a unprecedented tenor for the Association. Program is and chairperson of study at the Oklahoma Historical Civilization. biji plastik

Online HighSchool Diploma said...

Your post is truly good and informative I actually enjoy reading them every day. I’ve learned a lot from your post Thank you so much for sharing this nice post. Keep it up…

High School Diploma Program said...

Thanks for wonderful sharing.

Unknown said...

I like the way you described the topic with such clarity. This is something I have been thinking about for a long time and you really captured the essence of the subject.safari holidays

jaring pengaman said...

Nice article, thanks for the information. It's very complete information. I will bookmark for next reference
jaring futsal | jaring golf | jaring pengaman proyek |
jaring pengaman bangunan | jaring pengaman gedung

Fire Ball said...

Nếu bạn cần siêu thị điện máy cũ. Hãy đến shop thằng ghờm nơi cung cấp các loại máy lạnh cũ sharp, toshiba, lg. Đến đây bạn còn có thể cập nhật giá cả các loại máy giặt hay giải đáp thắc mắc mua tủ lạnh cũ ở đâu tphcm? Tất cả đều có ở shop chúng tôi.
Đến chúng tôi nơi vô số kien thuc được tổng hợp lại chuyên mục tổng hợp kiến thức bạn sẽ tìm hiểu những điều mới lạ như fa là gì vậy, pm là gì, email là gì,...

najibdenature said...

ujung kemaluan keluar nanah obat penis keluar nanah obat wasir herbal tanpa operasi obat cairan nanah keluar dari kemaluan obat kemaluan keluar nanah obat alat kelamin keluar nanah obat untuk cairan nanah yang keluar dari kemaluan obat untuk cairan nanah yang keluar dari kemaluan cara mengobati penis keluar nanah nanah keluar dari kemaluan kelamin pria keluar nanah obat kelamin pria keluar cairan nanah obat kelamin pria keluar nanah obat ujung kemaluan keluar nanah obat ujung kemaluan keluar nanah obat kelamin pria keluar cairan nanah obat kelamin pria keluar cairan nanah mengapa alat kelamin keluar nanah obat alat kelamin keluar nanah kemaluan laki laki keluar nanah kemaluan laki laki keluar nanah kemaluan keluar nanah kemaluan keluar nanah kemaluan keluar cairan nanah

Unknown said...

شات بنات مصر
شات بنات مصر
شات مصرى
شات مصرى
شات مصري
بنات مصر

شات مصر
شات مصرية

شات مصرى
شات بنات مصر
شات مصرى
بنات مصر
شات مصرى
شات بنات
شات مصر
شات مصرية

شات مصرية
شات مصريه

شات بنات مصر

Unknown said...

I think it is a fabulous document. Wonderful post!!! My spouse and i really added in your blog to my favs list along with count on get the exact same good quality information each time My spouse and i pay a visit to your blog. selling videos online

Bandar Poker Terpercaya said...

The article on this site is very interesting, thank you
Selamat datang di LENOVOPOKER™ Top 1 Judi Online
Promo Terbaru LENOVOPOKER :
- Bonus New Member Depo +20%
- Bonus All Member Next Depo +5%
- Bonus All Member Refferal 30%
- Bonus All Member Rollingan 0.5%
Contact : BBM : LENOVO88
WA : +6281375260652
Agen Domino 99
Bandar Poker
Agen Ceme
Bandar Ceme
Judi Poker Terpercaya