Guys,
Being a former IT guy myself, I would concur with Gooner. Changes of this magnitude, which are as far-reaching as they are, would require extreme cooperation between all the banks (including international ones). I agree that it can be done, but that it will take years to implement, and by then, who knows where we’ll be at.
That part of the law (which is the crux of HR 4954 as it pertains to our industry) isn’t my worry. The worrisome part is the pieces of the law that clearly can be used to prosecute affiliates. To me, this gives the DOJ “something to do” while they wait for this banking fiasco to get implemented. Although this law has had a major effect on partners bailing, and that is a really the killer impact of this law, it’s the part of the law about US domiciled sites/links, that clearly is the biggest worry item for me.
If you are not an American and not hosted in the U.S., then I think this law really doesn’t effect you directly (other than loss of customers). If you are an American citizen, then I think we have a big worry, and if you are hosted in the U.S., then you may have to break out your “striped” wardrobe soon, if you continue to keep your links up. This is why I have chosen to take my site down.