June 28, 2012
Please reconsider the probable negative effects upon our financial system by the recently enacted JOBS Act.
Not only will it open the door to fraudulent businesses, damaging our(USA's)financial reputation in the rest of the financial world, it will allow dishonest entities to dupe unsuspecting investors into businesses doomed to failure.
As a retired small business owner, I am one of millions of people who relies upon investments in the stock market for a good portion of my living expenses. If I were to be lured into investing in a company based upon un-audited and erroneous information due to the provisions of the JOBS Act, I, and many others could lose substantial portions of our already diminished savings.
The 2008 financial crisis has already damaged the economy so much, that to create an atmosphere where fraud is so easy to commit, and will undoubtedly have a negative financial impact on a good portion of our citizens, is irresponsible.
I join others in asking that you correct the obvious flaws in this law in order to protect the integrity of our stock market and what remains of our financial reputation in the rest of the world.