June 28, 2012
The JOBS Act of 2012 is poorly put together to safely do what it is intended. Please consider these salient points from a regular, Working Stiff that pays your salary:
If this ACT is implemented, 90% of all IPO's would fall in the category of virtually zero financial over-sight and reporting. No One would be in a position to acquire good, solid, accurate and true information of the prospective IPO's. Small investors like myself would be absolutely defenseless. Why are you even thinking of this??
I have been in sales for more than 40 years. Mostly in the auto and truck business. I KNOW how easy it is to inflate and exagerate the pros of a product and at the same time lie about the negatives of the same. That is exactly what would happen on the trading floors of America. Where ever the Crowdfunding would be pressing for investors, lies and half truths would be rampant This is no better than the state lotteries....in fact it is worse becasue no odds are even published in IPO investing.
Please re-consider the JOBS Act of 2012. Investors should only respond to putting their money into a company IF that company has a good product, good managment and a good (honest) chance of success. Please do not make it even worse for the investors than it already is. JUST DO YOUR DAMN JOB I AM EVERY DAY