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Securities

Jun. 28, 2012

Unsupported claims in the justification for the JOBS Act

Weaker protections for investors will, in the long run, make raising money more difficult because it erodes the essential lubricant of all markets - trust. By Martin Kenney of UC Davis


Two months ago in a bipartisan love fest, our Congress passed the euphemistically-titled "Jumpstart Our Business Startups Act." The stated goal of this legislation was to make it easier for new firms to raise growth capital from public markets.


The supposed justification for what is actually another massive deregulation of U.S. financial markets was that small firms find it difficult to raise growth capital and that, by extension, this limits job creat...

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