Ten Reasons the JOBS Act Is an Insane Race to the Bottom

Ten Reasons the JOBS Act Is an Insane Race to the Bottom is by William K Black, the author of  The Best Way To Rob A Bank Is To Own One.

The JOBS Act is insane on many levels. It creates an extraordinarily criminogenic environment in which securities fraud will become even more out of control. One of the forms of insanity is the belief that one can “win” a regulatory “race to the bottom.” The only winning move is not to play in a regulatory race to the bottom. The primary rationale for the JOBS Act is the claim that we must win a regulatory race to the bottom with the City of London by adopting even weaker protections for investors from securities fraud than does the United Kingdom (UK).

Perhaps the only way to start to restore sanity to Washington is to elect Elizabeth Warren to the Senate.  She seems to understands this issue of bank and financial fraud on a level that equals William Black.  Of course, she would only be one voice, but it is a start.  We have to start somewhere.  Why not start by electing Elizabeth Warren?

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