Republicans Angry That SEC Allowing Public Comment Period for a Rule Change

By: Monday December 3, 2012 7:05 am

Normally you would attack a regulator for corruption on their way in the door, not on their way out. But Patrick McHenry (R-NC) claims that SEC Chair Mary Schapiro, in one of her final acts, burnished her legacy by delaying a rule that would allow companies trying to go public to solicit donations through public [...]

Regulators Straining to Figure Out How to Not Facilitate Frauds and Schemes With JOBS Act Rules

By: Tuesday November 20, 2012 7:45 am

We knew back when the poorly named JOBS Act passed into law that it would provide more opportunities for financial schemers to re-open bucket shops and rip off their clients with investment scams than provide opportunities for employment. And regulators tasked with implementing the law now see the same problems, which has caused delays in [...]

Obama Shows Up on Reddit

By: Wednesday August 29, 2012 1:59 pm

President Obama took to Reddit today to participate in their popular “Ask Me Anything” feature. The question-and-answer session began at 4:30pm ET and quickly crashed the system, though it appears to be working now (at least for me). At last count there are over 4,300 comments on the thread. Some of the questions were extremely [...]

Facebook IPO Difficulties Reminder of the Insanity of the JOBS Act

By: Wednesday May 23, 2012 10:56 am

Facebook has bounced back a bit today on its initial stock offering, but it’s still way down from the IPO price. And the company – and those that helped bring it to NASDAQ – have much bigger problems: Morgan Stanley (MS) defended its role in Facebook Inc. (FB)’s initial public offering after a Massachusetts regulator [...]

No Separating Obama From the JOBS Act

By: Friday April 13, 2012 8:56 am

So I hear that Richard Trumka is personally outraged by the JOBS Act, and the larger idea that “this administration thinks that it’s going to be good for the country to re-inflate a stock market bubble.” This didn’t deter Trumka’s AFL-CIO from endorsing the President who signed that bill for re-election, of course. “Labor weighs [...]

Taibbi Savages JOBS Act as Fraud-Creation Policy Dressed Up As “Financial Innovation”

By: Monday April 9, 2012 1:39 pm

Yale professor Robert Shiller delivered a profoundly odd op-ed this weekend arguing that Occupy Wall Street and promoters of “financial innovation” have the same goal in mind, to “democratize” Wall Street. He picked up from his students some positive chatter about “crowdfunding,” where small investors seed startups with capital over the Internet, and he turned [...]

On JOBS Act, Ask a Con Man

By: Friday April 6, 2012 8:17 am

I’m not suggesting that convicted con men should perpetually give testimony in Congressional hearings. But on something like the JOBS Act, it wouldn’t be such a bad idea. Because they could tell you in a matter of minutes why you wouldn’t want to relax restrictions on capital formation to this degree. Mark L. Morze knows [...]

JOBS Act Gets Signed Today

By: Thursday April 5, 2012 8:24 am

President Obama will sign the JOBS Act today, a bill that sprung from his own Jobs and Competitiveness Council, a group with 19 corporate executives and 2 labor officials. Dealbook reports that Wall Street companies have begun to scour the bill for provisions that they can use to their advantage. Because that’s how it works, [...]

More JOBS Act Deregulatory Measures Found

By: Monday April 2, 2012 11:35 am

Visit for breaking news, world news, and news about the economy Yves Smith points us to a nice takedown of the woeful JOBS Act, which should get signed into law this week. Chris Hayes had Bill Black and Alexis Goldstein of Occupy the SEC on to talk about it, with Rep. Carolyn Maloney making [...]

Deregulatory JOBS Act Gets Final Passage in the House

By: Wednesday March 28, 2012 8:15 am

The House may not have been able to pass a transportation bill yesterday to enable the smooth functioning of two million construction jobs, but they did find the time to kill a bunch of investor protections and deregulate the securities markets: The House on Tuesday afternoon approved the final, Senate-passed version of the Jumpstart Our [...]

Democrats Realize Pro-Fraud Legislation Not in Their Interests

By: Tuesday March 27, 2012 8:55 am

After both houses of Congress passed it, the White House is finally recognizing that the deregulatory bill they proposed and pushed is distasteful to liberals who have actually looked at it for longer than two seconds: White House allies are in an uproar over pro-business legislation embraced by President Obama, exposing a new rift in [...]

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