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FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP) FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP)
View Poll Results: Do you want the AGCC to regulate the new FTP?
Yes
1,156 56.58%
No
887 43.42%

09-10-2011 , 01:22 PM
Quote:
Originally Posted by TheRaiderr
Maybe their net worth is much less than anyone thinks due to lifestyle.

Plus if they admit to running the site essentially from US soil, then i imagine criminal proceedings will soon follow

Ferguson has no "lifestyle".

He, Gordon and Seidel could probably pay off the U.S players themselves.
09-10-2011 , 01:36 PM
Quote:
Originally Posted by Todd Terry
Stop ****ing calling FTP's lawyers, they're getting paid with our money to answer. Calling isn't going to prompt them to reveal anything that they wouldn't reveal otherwise.
I was unaware the phone call would be so expensive. I'm pretty sure a criminal defense attorney wouldn't have had any other platform to reveal anything aside from someone contacting them in the first place. Maybe I am mistaken.
09-10-2011 , 01:48 PM
Quote:
Originally Posted by yesright
I have to admit I am vastly more shocked by the reaction of FTP and all its "Pros" (post BF) than to its obvious mismanagement.

The fact they have all said virtually nothing is just mind blowing.

Leaving the players hanging is just really dirty.

Do they realize there were numerous grinders who made their living from FTP and now cant pay their bills?

The same FTP pros are still entering huge buy-in tournaments using the money they sucked out of FTP.

How could anyone do that in clear conscience?

I have thought about this, even if I was just paid to promote FTP and had no say in management decisions I would still feel incredibly guilty that my promoting the company led people to trust their money with FTP.

I know 100% I would not stand by and say nothing.

I certainly wouldnt be entering tournaments while players havnt been paid.

Waiting for one of these guys (or girl) to show some moral character.
Not meant to be critical of your sentiment but I have to assume you've never been in the position everybody associated (esp the top ppl) with FTP is in now. They are in varying degrees of trouble but each of them gets a person involved with lawyers and their actions to date a exactly consistent with what their lawyers are telling them to do.
09-10-2011 , 01:52 PM
Quote:
Originally Posted by insidemanpoker
yesright, you and many others keep making one very false statement. This whole idea of 'why buy now when you can wait for bankruptcy' is not accounting for basically the single most important part of an asset for sale. This is NOT me saying whether or not FT can be bought pre bankruptcy for a +EV investment because I do not know, but the argument you keep making is fallacious.

The problem with that argument is that it just assumes that there are never competing potential investors. Obviously if under any circumstance an investor can be assured to be the only person competing for an asset, he can wait for the right price but that isn't how the real world works, so this argument that they could just wait and get it cheaper is flawed because they have to then worry about someone scooping it for more.

Now, let me say this again. The above is NOT me saying a +EV investment exists in the current FTP, it is just me pointing out that ppl keep assuming the investor will have 100% leverage in all circumstances and that is not accurate.
Talk about false statements and fallacious arguments, drivel and wasted bandwidth......

The price FTP is currently being offered for is completely above what anyone wants to pay for it otherwise someone would have bought it.

In liquidation and with a bidding war for assets amongst a number of potential buyers the final bid and price for which assets get sold will be a lot less than the current asking price and ensure that the maximal amount is obtained for FTP as it currently stands.

...and thats how the REAL world works and not some hypothetical and dellusional world of some misguided individual.
09-10-2011 , 02:02 PM
Quote:
Originally Posted by Howard Beale
Not meant to be critical of your sentiment but I have to assume you've never been in the position everybody associated (esp the top ppl) with FTP is in now. They are in varying degrees of trouble but each of them gets a person involved with lawyers and their actions to date a exactly consistent with what their lawyers are telling them to do.
You are totally correct in saying that they are following exactly what their lawyers have told them to do to date.

However it could not possibly hurt them to make the odd statement offering some kind of apology for the inconvenience everyone is experiencing along with an assurance that everything is being done to try and resolve the problems without admitting any liability.
09-10-2011 , 02:06 PM
Quote:
Originally Posted by Hdemet
Talk about false statements and fallacious arguments, drivel and wasted bandwidth......

The price FTP is currently being offered for is completely above what anyone wants to pay for it otherwise someone would have bought it.

In liquidation and with a bidding war for assets amongst a number of potential buyers the final bid and price for which assets get sold will be a lot less than the current asking price and ensure that the maximal amount is obtained for FTP as it currently stands.

...and thats how the REAL world works and not some hypothetical and dellusional world of some misguided individual.
He is saying that an entity that really wants to buy FTP can not simply avoid paying a premium now in the assurance that it can make the acquisition later for a much cheaper price, which is true.
09-10-2011 , 02:15 PM
Quote:
Originally Posted by Hdemet
You are totally correct in saying that they are following exactly what their lawyers have told them to do to date.

However it could not possibly hurt them to make the odd statement offering some kind of apology for the inconvenience everyone is experiencing along with an assurance that everything is being done to try and resolve the problems without admitting any liability.
It MAY not hurt but it also does not help their legal position. Once this level of difficulty is reached 'sorry' doesn't make a difference.
09-10-2011 , 02:15 PM
Quote:
Originally Posted by Howard Beale
He is saying that an entity that really wants to buy FTP can not simply avoid paying a premium now in the assurance that it can make the acquisition later for a much cheaper price, which is true.
Except for the fact that FTP agreed to an exclusivity negotiation period with a solitary investor that wasted a good 2 months and amounted to zilch.

Why they wanted to deal exclusively with one person needs some significant explaining as far as I am concerned.

As for competing potential investors what were they competeing for?

The price was set by FTP at "$350 million+ and you can have it."

Until someone matches that minimum price there is and couldnt ever be any competition for any assets and nobody has yet stepped forward to meet that minimum price tag.

We are talking FTP here and not some other normal company that has been put up for sale where you can negotiate a fair price and then someone else comes in with a better offer.
09-10-2011 , 02:18 PM
Quote:
Originally Posted by Howard Beale
It MAY not hurt but it also does not help their legal position. Once this level of difficulty is reached 'sorry' doesn't make a difference.
Again very VERY true.

Sorry now is a bit late and should have come out from day one.

At this point in time its pretty meaningless and just shows how inept FTP has been in handling all this.
09-10-2011 , 02:20 PM
Quote:
Originally Posted by Howard Beale
Not meant to be critical of your sentiment but I have to assume you've never been in the position everybody associated (esp the top ppl) with FTP is in now. They are in varying degrees of trouble but each of them gets a person involved with lawyers and their actions to date a exactly consistent with what their lawyers are telling them to do.
While I agree they have been told to say nothing by their lawyers, we all pretty much assume that, they COULD say something without incriminating themselves.
They could at least let the players know they are concerned by the situation.

What about those who are saying nothing but are still playing high buy-in tournaments as if nothing is wrong?

I cant see how anyone can defend that behaviour.
09-10-2011 , 02:22 PM
You are talking 'specifically' and he is talking 'generally'. Each has merit.

edit: @ hdemet
09-10-2011 , 02:26 PM
Quote:
Originally Posted by Hdemet
Talk about false statements and fallacious arguments, drivel and wasted bandwidth......

The price FTP is currently being offered for is completely above what anyone wants to pay for it otherwise someone would have bought it.

In liquidation and with a bidding war for assets amongst a number of potential buyers the final bid and price for which assets get sold will be a lot less than the current asking price and ensure that the maximal amount is obtained for FTP as it currently stands.

...and thats how the REAL world works and not some hypothetical and dellusional world of some misguided individual.
Exactly, just ridiculous stuff being posted now.

I think people reading this thread are more than smart enough to see what is going on with some posters.
09-10-2011 , 02:27 PM
Quote:
Originally Posted by yesright
I have to admit I am vastly more shocked by the reaction of FTP and all its "Pros" (post BF) than to its obvious mismanagement.

The fact they have all said virtually nothing is just mind blowing.

Leaving the players hanging is just really dirty.

Do they realize there were numerous grinders who made their living from FTP and now cant pay their bills?

The same FTP pros are still entering huge buy-in tournaments using the money they sucked out of FTP.

How could anyone do that in clear conscience?

I have thought about this, even if I was just paid to promote FTP and had no say in management decisions I would still feel incredibly guilty that my promoting the company led people to trust their money with FTP.

I know 100% I would not stand by and say nothing.

I certainly wouldnt be entering tournaments while players havnt been paid.

Waiting for one of these guys (or girl) to show some moral character.
these bitches just don't have the balls to say anything, they are already investing our money in new personal identities and security to protect their worthless lifes hiding away from public.
09-10-2011 , 02:29 PM
Quote:
Originally Posted by yesright
While I agree they have been told to say nothing by their lawyers, we all pretty much assume that, they COULD say something without incriminating themselves.
They could at least let the players know they are concerned by the situation.

What about those who are saying nothing but are still playing high buy-in tournaments as if nothing is wrong?

I cant see how anyone can defend that behaviour.
Pray that you never walk in their shoes. Unless you're akin to a sociopath the pressure is indescribable.
09-10-2011 , 02:36 PM
Quote:
Originally Posted by Howard Beale
You are talking 'specifically' and he is talking 'generally'. Each has merit.

edit: @ hdemet
I'll give you some credit but not him as he is talking hypothetically and completely illogically and without any merit IMHO
09-10-2011 , 02:39 PM
Quote:
Originally Posted by yesright
Exactly, just ridiculous stuff being posted now.

I think people reading this thread are more than smart enough to see what is going on with some posters.
Alas it goes with the internet territory but I have never suffered fools gladly and you are right as they are best ignored completely and not worth responding to in any shape or form.

However they need to be slapped down from time to time but that just fuels their egos so its a lose-lose situation:-(
09-10-2011 , 02:43 PM
Quote:
Originally Posted by Howard Beale
Pray that you never walk in their shoes. Unless you're akin to a sociopath the pressure is indescribable.
So are you saying its OK to play these tournaments while players are owed?

If the pressure was "indescribable" why would you even be seen in public?

Interestingly if your conscience is clear why should you feel any "pressure"?

If you behave in an acceptable manner and are making what any reasonable person would describe as reasonable efforts to do the right thing then there would be no "pressure".

Are you telling me the grinders who earned a living from FTP and cant pay their bills have less pressure than some millionaire sitting in his mansion.

Or a millionaire poker player playing 10K and 25 K buy-in tournamments with money they shilled from FTP.

Reminds me of Ifrah telling everyone Ray Bitar was having a bad day.

Maybe the bad day was caused by himself.

The players did nothing wrong but play on FTP honestly and donate rake.
09-10-2011 , 02:57 PM
@yesright:

Have HL or CF been in these tourneys you speak of? I don't follow the tourney news but maybe you mean Seidel? Are there others that I'm unaware of?

I think that I can confidently state that ppl like HL and CF are going over years of actions in their heads trying to recall what they may have done that can be used against them in a criminal case. They may be in physical luxury but not in mental.
09-10-2011 , 03:21 PM
Quote:
Originally Posted by Howard Beale
@yesright:

Have HL or CF been in these tourneys you speak of? I don't follow the tourney news but maybe you mean Seidel? Are there others that I'm unaware of?

I think that I can confidently state that ppl like HL and CF are going over years of actions in their heads trying to recall what they may have done that can be used against them in a criminal case. They may be in physical luxury but not in mental.
yeah. To add insult to injury to all former FTP players who have a lot of money stuck, Seidel just played and final tabled some big tournament as if nothing happened.
09-10-2011 , 03:25 PM
Quote:
Originally Posted by momo_the_kid
yeah. To add insult to injury to all former FTP players who have a lot of money stuck, Seidel just played and final tabled some big tournament as if nothing happened.
WellI sent this to The Epic Poker League Ethics committee (ethics@epicpoker.com) and am currently awaiting an answer.......

Dear Sirs

I note with interest and applaud your stance regarding David “Chino” Rheem after he won your inaugural event as poker needs to have a clean cut image and seen to be doing the right thing.

However I would like to know what your stance is on the involvement and participation of any Full Tilt Poker shareholders in your league either as players or within your organization itself?

They have obviously received dividends over the years that are now seen as having come from player deposits in one way or another (directly or indirectly) and as such have benefited financially to the detriment of completely innocent players who signed up to the site and who look likely to lose $100’s of millions between them.

Just find it very interesting that you have no public opinion/statement on this as the current Full Tilt Poker debacle and the missing player funds is to say the least a significant event that has brought poker into greater disrepute than anything else since the UB/AP controversy.

Your soonest response with your comments would be appreciated.

...and got this out of office reply earlier today so we will see if a full reply is forthcoming.

Thank you very much for contacting the Epic Poker Standards & Conduct Committee. We have established this committee to help the league ensure fair play, good character and integrity in every aspect of the league’s operations and further enhance the professionalism of poker. We take every communication that comes to the attention of the committee very seriously. Thank you again for taking the time to connect with the Committee and supporting the Epic Poker League in enhancing the professionalism of poker.

Stephen Martin
Independent Ethics Advisor
Chair, Standard & Conduct Committee
Epic Poker League
09-10-2011 , 03:28 PM
Quote:
Originally Posted by Hdemet
WellI sent this to The Epic Poker League Ethics committee and am currently awaiting an answer.......

Dear Sirs

I note with interest and applaud your stance regarding David “Chino” Rheem after he won your inaugural event as poker needs to have a clean cut image and seen to be doing the right thing.

However I would like to know what your stance is on the involvement and participation of any Full Tilt Poker shareholders in your league either as players or within your organization itself?

They have obviously received dividends over the years that are now seen as having come from player deposits in one way or another (directly or indirectly) and as such have benefited financially to the detriment of completely innocent players who signed up to the site and who look likely to lose $100’s of millions between them.

Just find it very interesting that you have no public opinion/statement on this as the current Full Tilt Poker debacle and the missing player funds is to say the least a significant event that has brought poker into greater disrepute than anything else since the UB/AP controversy.

Your soonest response with your comments would be appreciated.
+100000000! well done! sir!
09-10-2011 , 03:35 PM
Quote:
Originally Posted by momo_the_kid
+100000000! well done! sir!
I also included the out of hours reply I got this morning from them by editing it in if you go back to the previous post.

be interesting to see what they say or if they comment but reckon it will be something lame but we will see.
09-10-2011 , 03:50 PM
Harry, a while ago you talked about a deal that you said worked out in the best interest of everyone involved. Is that still ongoing?
09-10-2011 , 03:55 PM
Quote:
Originally Posted by Hdemet
WellI sent this to The Epic Poker League Ethics committee (ethics@epicpoker.com) and am currently awaiting an answer.......

Dear Sirs

I note with interest and applaud your stance regarding David “Chino” Rheem after he won your inaugural event as poker needs to have a clean cut image and seen to be doing the right thing.

However I would like to know what your stance is on the involvement and participation of any Full Tilt Poker shareholders in your league either as players or within your organization itself?

They have obviously received dividends over the years that are now seen as having come from player deposits in one way or another (directly or indirectly) and as such have benefited financially to the detriment of completely innocent players who signed up to the site and who look likely to lose $100’s of millions between them.

Just find it very interesting that you have no public opinion/statement on this as the current Full Tilt Poker debacle and the missing player funds is to say the least a significant event that has brought poker into greater disrepute than anything else since the UB/AP controversy.

Your soonest response with your comments would be appreciated.

...and got this out of office reply earlier today so we will see if a full reply is forthcoming.

Thank you very much for contacting the Epic Poker Standards & Conduct Committee. We have established this committee to help the league ensure fair play, good character and integrity in every aspect of the league’s operations and further enhance the professionalism of poker. We take every communication that comes to the attention of the committee very seriously. Thank you again for taking the time to connect with the Committee and supporting the Epic Poker League in enhancing the professionalism of poker.

Stephen Martin
Independent Ethics Advisor
Chair, Standard & Conduct Committee
Epic Poker League
Ask this joker Martin why Andy Bloch (a FT owner) is on the Standard and Ethics Committee and ask him if any FT shareholders are shareholders in the Epic Poker league.
09-10-2011 , 03:57 PM
Quote:
Originally Posted by WhoWhoOwl
Harry, a while ago you talked about a deal that you said worked out in the best interest of everyone involved. Is that still ongoing?
Practically dead and almost no chance of success now :-(

      
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