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CNBC Says "Mike South - South is the Nikki Finke of the porn industry. His blog, which is never short on opinion, is a must-read among industry insiders. His style is unique, but he is also a leading agent of change within the industry. There are few fence-sitters when it comes to opinions about South, but no one ignores him."

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  • The Text Of The AHF Subpoena And As Usual The FSC Hasnt Been Honest (57)
    • LurkingReader: @rawalex Dickwad? Awww gee making it personal after someone pays you the compliment of dancing around your denials, deflections and...
    • rawalex: Congrats, you just made my “dickwad” list. That is reserved for the very special people in the world who are unable to read...
  • Met Art Puts MindGeek In Its Crosshairs (20)
    • mharris127: I personally don’t think they are losing money more than they aren’t making the money they once did (I admitted in my last...
    • rawalex: Pure speculation here… but I am wondering at what point it’s not in Metart’s interest to settle, and rather much more...
    • Karmafan: Here is an interesting read. They even quote Mike: http://news.nationalpost.com/n ews/how-a-canadian-founded-...
    • BT: I always wondered what happened to the reporting Charlie Gasparino was doing on Manwin. He was all hot to trot, and then just dropped it....
    • Removed Account: Do you happen to remember where that news article was? Now that would be an interesting read.
    • Karmafan: The rumor a couple of years ago was that the money was being laundered to promote a middle east terrorist group. There was even a news...
    • MikeSouth: I dont think mindgeek is losing money by any means it is very necessary for them to keep up the appearance that the tubesites are doing...
    • mharris127: As I said in my post MindGeek going bankrupt is probably a pipe-dream. I don’t place much stock in the rumor mill either.

Is The Department of Justice Behind The Chase Account Closures.

In researching these account closures it has become apparent that some Chase customers are unaffected and others have had their accounts closed for no apparent reason, despite Chase saying that all had Terms of Service Violations.

What has come up though is a memo from the Federal Deposit Insurance Corporation that lists Pornography (and many others) as a high risk business for defaults.  While the FDIC doesn’t require banks to close these accounts it is seen by some as a recommendation.

But the most interesting thing to come out of this is a Department of Justice initiative called Operation Choke Point.  Operation Choke point is directly targeting Payday lenders, Check Cashing Operations and Third Party Processors.

The adult industry on the internet is largely dependent on third party processors like CCBill, Paxum, Epoch and Zombaio to do billing for adult sites.  According to the Obama Administration and the Department of justice these ” third-party processors that route payments for merchants through banks are ignoring signs of fraud to rake in fees from transactions.

Chase account closures aside the industry should be keeping a very close eye on this as an attack on third party processors is at the very least an indirect attack on adult.