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Forum Post: Congress's Genius Jobs Plan - for Screwing 99%

Posted 2 years ago on March 16, 2012, 11:37 a.m. EST by TheirLyingPropaganda (54)
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http://www.propublica.org/thetrade/item/congresss-genius-jobs-plan-for-fraudsters-shills-and-wall-st-analysts

"Finally, the House passed a jobs bill last week. And what a bill it is!

Officially called the Jump-Start Our Business Start-Ups Act, it calls for reopening our capital markets to exciting new start-ups by ridding protections for investors and stripping away disclosure requirements for smaller companies....

Since the technology stock blowup, the accounting scandals at Enron and WorldCom and the worst financial crisis since the Great Depression, investors have been needlessly wary of putting their savings into fledgling companies offered by Wall Street banks.

The JOBS bill fixes that. Taking advantage of the revolutionary possibilities of the Internet, the bill loosens decades-old investor protections so that companies can directly advertise to those who would like to be separated from their money. It does that by giving broad exemptions for start-ups that want to "crowdfund" by raising small amounts of money over the Internet. I.P.O. pitches next to "Lose Your Belly!" ads. Sounds like a great idea!"

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