June 29, 2012
The Jobs Act contains many provisions which I, an individual investor, believe will negetievly affect the transparency of the investment climate and greatly increase the potential for fraud and abuse. These aspects include: reduced independent accounting standards, crowd funding and reduced disclosure of conflicts of interest and opening the potential for masking internal financial problems thus reducing trust in US financial markets. If this act passes most certainly some people will make a great deal of money, but it won't be the general investor and the overall appeal of investing in US companies will be reduced through mistrust of our financial practices.
I invest for the long term. I do not invest in companies that don't have a long view of their business, their investors, their employees, their community and this country. The Jobs Act does much to destroy the incentives associated with those attributes.