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Entrepreneurs Watch As Crowdvesting Bill Stalls In Senate 182

Posted by timothy
from the please-fill-out-form-1099-qed dept.
cayenne8 writes "The JOBS Act bill, passed in the house, has stalled in the senate. One section of this bill, which would legalize 'Crowdsourcing' in the U.S., as it is in other countries, allowing companies and startups (like indie film makers) to solicit investments for profit over the internet. This differs from sites like Kickstarter, which allow you to only donate money, in that this bill will allow the common citizen to invest for potential profit ($10K or 10% of income for investor limits) in new ideas and companies."
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Entrepreneurs Watch As Crowdvesting Bill Stalls In Senate

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  • by AcidPenguin9873 (911493) on Thursday March 22, 2012 @02:52PM (#39443541)

    This bill reduces oversight, regulation, and investor protection measures when companies want to raise investment capital. Please read the following:

    http://baselinescenario.com/2012/03/20/cfa-institute-against-the-jobs-bill/ [baselinescenario.com]
    http://baselinescenario.com/2012/03/21/jobs-disaster-looms/ [baselinescenario.com]
    http://baselinescenario.com/2012/03/22/last-ditch-attempt-to-save-a-little-bit-of-investor-protection-in-the-united-states/ [baselinescenario.com]

    One of the biggest cause of the recent financial crisis was too little regulation of the financial industry. I do *not* want to do it again in 5 years.

  • Re:Scam? (Score:1, Insightful)

    by Anonymous Coward on Thursday March 22, 2012 @03:13PM (#39443771)

    "...the JOBS Act — for Jumpstart our Business Startups - would remove burdensome regulations...

    Never mind that reams of Congressional testimony, market analysis and academic research have shown that regulation has not been an impediment to raising capital. In fact, too little regulation has been at the root of all recent bubbles and bursts — the dot-com crash, Enron, the mortgage meltdown. Those free-for-alls created jobs and then imploded, causing mass joblessness. "

    I was not aware that Enron, Lehman Brothers, Fannie and Freddie, and the large corporate banks involved in mortgages were considered "start ups". Thank you for educating me on that.

  • by sexconker (1179573) on Thursday March 22, 2012 @03:52PM (#39444131)

    The House bill would allow individual investors to invest up to $10,000, or 10 percent of their annual income a year, whichever is less. The Senate bill would limit those investments to the greater of $2,000, or 5 percent of either annual income or net worth, if either figure is less than $100,000.

    So for those of us in the $50k-$100k category that limits the investment to $2,500-$5000 instead of $5,000-$10000.

    Doubles the number of investors needed.

    A bit odd, that, since 10% of yearly income, while significant, isn't exactly something that should break you financially. Seems a bit overcautious.

    It's not cautious, it's designed to prevent you from profiting off of investments or funding your business outside of a major stock exchange.
    Any American investments greater than 1 pittance must first be taxed by banks and stock brokers, then left in their control to fuck up.

    You're not unamerican, are you?

  • Re:Scam? (Score:2, Insightful)

    by TubeSteak (669689) on Thursday March 22, 2012 @06:55PM (#39446001) Journal

    but it is very clear to me the mortgage bubble was created by the Government, its Fannie/Freddie organizations, and the private bank monopoly known as the Fed. They colluded with one another to provide tons of cheap low-interest loans, and that fueled the rapid rise in demand for limited housing, and eventual burst of the bubble in 2007-8. If anything it was TOO MUCH regulation

    Right. None of it had anything to do with the massive fraud the loan originators and derivatives bundlers were perpetuating.
    Those fucks are so dishonest, they couldn't even forclose on the clusterfuck they created without robosigning their way to another massive fraud upon the people.

    You have to be blind, deaf, and dumb to think "TOO MUCH regulation" is the reason those assholes lied their way to massive profits.
    Seriously, how could you have ignored the endless reporting on what the banks and lenders were doing?

  • Re:Scam? (Score:2, Insightful)

    by s73v3r (963317) <s73v3r@gmail.cPASCALom minus language> on Thursday March 22, 2012 @08:00PM (#39446477)

    And I would say that someone who merely counts the number of pages has no idea what they're talking about.

    I cannot comment of the dot-com or enron debacles, but it is very clear to me the mortgage bubble was created by the Government, its Fannie/Freddie organizations, and the private bank monopoly known as the Fed. They colluded with one another to provide tons of cheap low-interest loans, and that fueled the rapid rise in demand for limited housing, and eventual burst of the bubble in 2007-8. If anything it was TOO MUCH regulation (Congress insisting everyone should get a mortgage, even if they were too poor to pay it back).

    False. The biggest factor was the repeal of Glass-Stegall(sp?), which made it far more possible for banks to be risky with money, including loans. And that IS deregulation.

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