June 28, 2012
As an individual investor, I am uncomfortable with the lack of oversight provided by the JOBS Act. Emerging companies that offer stocks to the public must also meet independent accounting requirements just like any other publically held company as well as following the same rules designed to prevent conflicts of interests among Wall Street analysts, publically submit IPO paperwork prior to actually going public, and unmask exorbitant and usurious executive pay packages.
The definition of a "small" company is ludicrous. I invest in all sizes of companies and I expect to receive the same amount of information from a "small" company that I receive from a "large" company.
The changes provided for in the JOBS Act are blatant moves by a political party that is intent on pushing the small investor out of the market and back into servitude.
I am by no means part of the lower 50% (income) of our country and I am all for moving forward and making changes, but I cannot see how these changes are for the good of ALL the people - I only see it benefiting the extreme upper class.
Mary M. Lemmons