4 ms·
Just because a piece of legislation has a nice feature doesn't mean it can't be horrible for its other properties.
by leot 15y ago
Just because a piece of legislation has a nice feature doesn't mean it can't be horrible for its other properties.
- cstross 15y agoAbsolutely correct! But it still seems to me that Taibbi is focussing on one particular aspect of it without any indication that he noticed the other angle.
- Avshalom 15y agoTaibbi focused on the aspect of the JOBS act because the angle you propose is already legal and the advertised angle (kickstarter for IPOs) is (as far as he and others are concerned) just a veneer used to sell it to the rubes.
- sanderjd 15y agoSimilarly, just because a piece of legislation has a horrible feature, doesn't mean it can't be fantastic for its other properties. Fraud exists. Fraud will exist after this bill goes into effect. So will non-fraudulent business models and investment opportunities that were unworkable before the bill. Does the benefit of those new opportunities outweigh the cost of the increased fraud potential? I think so, perhaps you think not, neither of us know for sure. What I do know is that I worry more about the entire economy being destroyed by the current powers that be through both fraud and simple incompetence than I worry about losing money to fraudsters preying on unaccredited investors like myself, and I very much look forward to having the opportunity to do so.