Comments on: The problematic JOBS Act http://blogs.reuters.com/felix-salmon/2012/03/21/the-problematic-jobs-act/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: BrPH http://blogs.reuters.com/felix-salmon/2012/03/21/the-problematic-jobs-act/comment-page-1/#comment-37173 Wed, 21 Mar 2012 20:31:04 +0000 http://blogs.reuters.com/felix-salmon/?p=12556#comment-37173 Bill Black has come out strongly against this bill too, although he doesn’t clarify details of why.

As an entrepreneur, I am in favor of the innovations. It is just too hard to get in to even have a hearing with VCs these days. VCs are lemmings and always pursuing the latest “hot sector”.

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By: securitiesatty http://blogs.reuters.com/felix-salmon/2012/03/21/the-problematic-jobs-act/comment-page-1/#comment-37172 Wed, 21 Mar 2012 20:17:54 +0000 http://blogs.reuters.com/felix-salmon/?p=12556#comment-37172 “On top of that, of course, there’s enormous scope for outright fraud here, given the lack of real penalties for issuers who lie.” Where in the heck did you get that idea?? Issuers who lie are perpetrating fraud and violating multiple state and federal statutes. It’s a crime, and people go to jail for it. Check out this brag sheet from the DOJ for some recent cases: http://www.justice.gov/usao/briefing_roo m/fin/mca_fin.html. There are also special protections in the bill, but sadly, news reporters apparently are not reading the bill or even asking a securities attorney to read it for them to tell them what it really says.

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By: Moopheus http://blogs.reuters.com/felix-salmon/2012/03/21/the-problematic-jobs-act/comment-page-1/#comment-37169 Wed, 21 Mar 2012 18:24:43 +0000 http://blogs.reuters.com/felix-salmon/?p=12556#comment-37169 “A bill which was essentially drafted by a small group of bankers and financiers has managed to get itself widespread bipartisan support, even as it rolls back decades of investor protections. That wouldn’t have been possible a couple of years ago”

Really? What makes you say that? The only difference is that a couple of years ago, it was possible to get some less-bank-friendly legislation through, forcing the banks to make lobbying efforts to make sure it was sufficiently diluted before passing.

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By: Eericsonjr http://blogs.reuters.com/felix-salmon/2012/03/21/the-problematic-jobs-act/comment-page-1/#comment-37167 Wed, 21 Mar 2012 18:02:13 +0000 http://blogs.reuters.com/felix-salmon/?p=12556#comment-37167 Wait…the SEC forces companies to go public??

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By: mattdebord http://blogs.reuters.com/felix-salmon/2012/03/21/the-problematic-jobs-act/comment-page-1/#comment-37164 Wed, 21 Mar 2012 17:31:07 +0000 http://blogs.reuters.com/felix-salmon/?p=12556#comment-37164 It’s a great piece — the IPO market for tech isn’t performing its function properly anymore, but then again the innovation pipeline is having problems, too. That said, I think you’re being too positive on companies like Facebook getting rich on the backs of free labor while avoiding the IPO and hiding equity in Second Market. And who are these horrible VCs who kick their companies out of the nest post-exit? What if your successful team comes back with another pitch? It’s good business to be long-term caring. VC proposition isn’t just the province of the Sand Hill Big Boys.

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By: dWj http://blogs.reuters.com/felix-salmon/2012/03/21/the-problematic-jobs-act/comment-page-1/#comment-37163 Wed, 21 Mar 2012 17:01:05 +0000 http://blogs.reuters.com/felix-salmon/?p=12556#comment-37163 I wonder whether the IRA model could be used to allow unaccredited individuals a limited ability to invest in unregistered investments without allowing them to expose themselves to tens of thousands of dollars in losses too terribly easily. Perhaps a $1000 contribution per year, subject to a much weaker test than accreditation, such as perhaps a balance or contribution rate to retirement funds.

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By: RussAbbott http://blogs.reuters.com/felix-salmon/2012/03/21/the-problematic-jobs-act/comment-page-1/#comment-37162 Wed, 21 Mar 2012 16:48:39 +0000 http://blogs.reuters.com/felix-salmon/?p=12556#comment-37162 It’s distressing how easy it is to get bipartisan support for terrible legislation. SOPA was a recent previous example.

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By: Unsympathetic http://blogs.reuters.com/felix-salmon/2012/03/21/the-problematic-jobs-act/comment-page-1/#comment-37161 Wed, 21 Mar 2012 16:18:28 +0000 http://blogs.reuters.com/felix-salmon/?p=12556#comment-37161 The only jobs this bill will create are in the lucrative world of bucket shops, scam artists, and fax repairmen to deal with the copious stream of marketing BS from CEO’s of small companies with degrees from directional universities.

What, exactly, does this bill address? The “need” for financial fraudsters to locate their tax-dodging businesses in the US rather than London?

Financial frauds are weapons of job destruction. If Obama actually promotes jobs, this bill must not pass.

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By: Sechel http://blogs.reuters.com/felix-salmon/2012/03/21/the-problematic-jobs-act/comment-page-1/#comment-37160 Wed, 21 Mar 2012 16:11:43 +0000 http://blogs.reuters.com/felix-salmon/?p=12556#comment-37160 What makes the United States strong in its ability to attract capital to new companies is not low compliance costs but investor confidence that their interests are protected. By taking away disclosure and turning investors into dark pool money, the process is weakened, if not immediately then after the first blow-up where investors find out they’ve been bilked.

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