June 29, 2012
We are only now beginning to come out of the financial fraud associated with dangerous behavior (CDO's, etc) by investment banks and mortgage originators.
Now we have the JOBS act which is really a jobs act for venture capitalists only. It will result in great fraud and financial loss. The troubling provisions include idiotic provisions such as the 5 year exemption from scrutiny for IPO's under one billion dollars. The lack of accounting scrutiny will cause considerable harm. It will also cause the US stock market great harm due to the loss of trust from investors such as myself.