On Wednesday rumors that Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, was about to introduce a bill that would repeal last year's Unlawful Internet Gambling Enforcement Act helped push up the stock prices of online gambling companies, especially PartyGaming. Alas, Frank's spokesman says there's no truth to the rumors:
As you know, he is opposed to restrictions on online gambling. But there is nothing currently underway to repeal the restrictions on Internet gambling in the United States. There are a lot of reports coming out of Europe, and I have no idea where they are coming from. There hasn't been anyone on our staff talking about that, including the Chairman.
Last year, you may recall, Frank offered some stirring words in defense of your right to do what you damned well please with your own money. Now that he has the power to do something about it, will he?
[Thanks to Thomas Paine's Goiter for the tip.]