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CEI Blasts New Banking, Internet Gambling Regulations

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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.