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CEI BLASTS NEW BANKING, INTERNET GAMBLING REGULATIONS

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CEI BLASTS NEW BANKING, INTERNET GAMBLING REGULATIONS

CEI BLASTS NEW BANKING, INTERNET GAMBLING REGULATIONS 

Bush Administration Seeks
Burdensome “Midnight Regulation”

Washington, D.C., November 13, 2008—In its
final weeks, the Bush administration is trying to rush through ill-considered regulations
aimed at preventing Internet gambling. 

Two
Competitive Enterprise Institute scholars harshly criticized the “midnight” regulations.
The regulations, intended to implement
the Unlawful Internet Gambling Enforcement Act, impose enormous burdens on the
already troubled banking system, deprive Americans of freedom, and won’t work. 

“Any
midnight rulemaking is a bad idea,” says CEI
Senior Fellow Eli Lehrer. “Once an administration is on its way out, it
should focus on regulations that are truly urgent—not burdensome banking
regulations intended to extend the nanny state.” 

“There
is absolutely zero potential benefit to this regulation” added Michelle Minton, a Policy Analyst at
CEI. 

Read
the CEI On Point Time to Fold the Unlawlful Internet Gambling Enforcement Act by Eli Lehrer.