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AZ_Mike on October 24, 2008 at

That was weird. Apparently when the previous page fills up, but there are no posts for the new page, you get an empty page, without even the “Comment pages: x x x [x]” tags.

MarkTheGreat on October 24, 2008 at 7:19 AM

Thanks for the 411, Mark, I noticed that at 3AM & started hearing the Twilight Zone theme song in my head. Good to know.

NightmareOnKStreet on October 24, 2008 at

HOW PHONY TRANSACTIONS CAN HAPPEN:
Because of recent (and, in my opinion, bad) practices, small transactions (definition varies: $25 or less for most everybody, more for some businesses) can easily sail through the card processing system without validation of any kind.

Small transactions are evaluated for the probability of a “charge-back” by the processor, because “charge-backs” cost the processor money without producing any revenue. Too many “charge-backs” and the Merchant will lose his Merchant Account: but since the Obama campaign is a transient business, the Obamamaniacs probably don’t care. Regardless, the card processor should care because charge-backs can occur a considerable time after the transaction: by law, the cardholder has at least 30 days after they receive their credit card statement to dispute the charge and have the money refunded: this could easily be 60 days after the transaction. A credit card processor could potentially be “stuck” with these charges if there were insufficient funds in the Obama campaign account to refund the money. Normally, a financial institution functioning as a credit card processor will require a sequestration of funds in the Merchant Account and/or delay deposits to the Merchant Account in order to reduce the card processor’s risk to an acceptable level. Typically, card processor’s rules are more strict and fees are higher when donations are involved, because there is a much greater risk of “charge-backs” than for normal goods/services transactions.

HOW THESE TRANSACTIONS CAN BE AUDITED:
There IS a computer system which could be used to audit Obama’s on-line contributions: it is the one maintained by the Card Processor. If Obama is using more than one card processor, then two or more databases need to be combined to get the whole picture. If the card processor “accidentally loses” the data, then VISA/MC has the database which can tie transactions from the card processor to bank account databases all over the country…or the world in order to reconstruct the original database. So the data is there, it’s all a matter of how much time, money, and legal fees someone is willing to spend getting it.

The FEC (or the RNC if the FEC drags its feet) should immediately obtain a subpoena for the database(s) maintained by the Card Processor(s), along with an injunction to prevent alteration of the database(s). As a backup, the database(s) could be reconstructed from the larger database(s) maintained by VISA/MC which must be preserved for at least a year in order to actually transfer funds, and potentially reverse some transactions. Depending upon the circumstances, the Federal Reserve could potentially be involved also, as it issues the regulations (Primarily via Regulation E) which govern electronic transfer of funds. There will have to be a lawsuit, because privacy laws are involved and the release of this information needs to be limited to a very few recipients under strict supervision.

SO WHO SAYS SO AND HOW DOES HE KNOW?
I am the author of my company’s shopping cart and interface to a large bank consortium which does the credit card processing for us in either batch or real-time (our choice). Our company also writes custom software to transfer data to the ACH (Automatic Clearing House – aka wire transfer) system.

landlines on October 24, 2008 at

The reason for Obama’s European tour? Donations from overseas. This is where the millions are coming from, and why he won’t disclose the list of “$200 or less” donors. The man and his cohorts are, without a doubt, the most incorrigible, blatantly dishonest, and corrupt group in history.

hopefloats on October 25, 2008 at

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