April 11, 2012
Once again government has failed. They have taken a good idea and turned it over to bureaucrats who will make the process so difficult that only crooks will use it by finding a way to take advantage of it. The little guy, the one with the great idea, who needs some start up cash to expand and create jobs will be scared away. For these folks the terms SEC, intermediaries, non-accredited investors, portal, Reg. D are all Greek terms.
For once, why not do something meaningful for the little guy. Why not allow the little guy, with the big idea, to offer the little guy, with a little money, an opportunity to make some money (more than the 1% the banks pay). Allow this by keeping it very simple. Let the little guy advertise for the little investors. The little guy who needs no more than a total investment of $100,000.00 or less. (Given the investor guidelines in the regulations). Make rules that the little investor understands, like: 1) you must speak directly to any potential investor, 2) you must provide your personal telephone number and house address, 3) you must provide a business plan, 4) you must respond to any questions from an investor in a timely manner. Should any information be false, your personal property will be confiscated and you will be subject to legal action.