Mission Creek

Below is an interesting article from the Financial Times, where VCs are characterized as destroyers.  Here is one clip:

The cowboys racing on to this frontier aim to capture financial rewards and are inevitably dependent upon them for sustenance. In spite of the culture of sharing, venture capitalists determine who saddles up, and profits decide who wins. It is a fact that there will be far more riders than winners. That is not a bubble. That is creative destruction.

ouch:  full story here

from reuters.com

WASHINGTON, Oct 2 (Reuters) - The costs of policing a new U.S. Internet gambling ban for banks and credit card companies will be determined by regulators in the coming months, industry officials said on Monday.

Government officials are expected to propose a “coding-and-blocking” system that will identify and stop payment to online gambling sites, experts said. Many banks and credit card companies already voluntarily block Internet gambling transactions using such a system.

The Treasury Department and Federal Reserve Board have nine months to draft regulations after the new law, included in a package of port security measures passed by Congress on Friday and expected to be signed into law by President George W. Bush.

full article here