Home / Poker News November 2011 / The Poker Grapevine – Barney Frank to Retire
The Poker Grapevine – Barney Frank to Retire
Posted by: James Carter. - Tue, 2011-11-29 14:00
The cause of legal online poker will lose a major supporter in 2012. Congressman Barney Frank has announced the other day that he would not be running for a 17th term in 2012. He said that the reason for his stepping down was the new congressional map which featured major changes. Frank addressed the issue during a press conference in Newton, Massachusetts, his hometown. He told the press that he had intended to run again, but the congressional redistricting had changed his mind.
Barney Frank needs no introduction for
on line poker players and industry members. Ever since the 2006 UIGEA was passed, as the House Financial Services Committee chairman, he has been the biggest supporter of legalization. In addition to his own online poker bills, he acted as sponsor for Congressman John Campbell’s Internet Gambling Regulation, Consumer Protection and Enforcement Act. H.R. 1174 has been submitted to the House Subcommittee on Crime, Terrorism and Homeland Security way back in June. The said Committee then proceeded to throw the proposal into the corner, failing to take any measures related to it since.
Frank’s latest gesture in support of legal online poker came about a week ago when he testified in a House Energy and Commerce Subcommittee hearing.
In other news: actor Tobey Maguire found himself in hot legal water a while ago on account of a Hollywood high stakes poker game in which he had allegedly taken part. He was one of 22 people sued in the case. The poker games were apparently organized by a hedge fund manager from Beverly Hills whose legal slate wasn’t exactly clean. More than $30 million has reportedly gone missing, of which Maguire must’ve only won a tiny share, because the agreement he struck with the bankruptcy trustee was for $80k.
The Spiderman actor had originally been sued for more than $300k. 14 of the 22 people sued have already agreed to similar settlements in their cases.
