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My thoughts exactly. Why can't someone just ask others for money? What is so wrong with "broadcasting" a solicitation for money?

• dclusin 14y ago
  The threat of potential evil-doers operating a boiler room type operation primarily. The basic problem with regulation of the form "this type of solicitation is ok, but not this" is that the government tends to be behind the curve. Logically this makes sense; the government can only ban certain types of abuse after they have been deemed as such and after they have already happened. If your goal is to protect the 401k of a soccer mom who isn't good with the googles the easiest way to do that is just ban private placement solicitations entirely.
• ahi 14y ago
  This is one of those situations where the regulations were effective so we don't remember why they were put in place. Basically every other grandma was having her purse emptied by a good looking scam artist.
  • jaekwon 14y ago
    We already have plenty of that. We can penalize the scam artists. That's not excuse for limiting grassroots dealflow.
    • rprasad 14y ago
      We can go after the scam artists today because of the same regulations that disallow this party. The only reason people think these regulations are unnecessary now is because they've never experienced the types of fraud that these regulations were meant to address.