Re:Telegram has raised an initial $850M for its billion-doll...
by CryptoPunk on Saturday February 17, 2018 @04:51AM
(#16399953)
Thanks to securities laws, the rich get richer, and the poor have to wait for the scraps.
Ideally the SEC's mandate would be limited to going after P&D groups and other scams, and no longer include enforcing restrictions on selling securities to unaccredited investors as a non-public company.
If the poorest households are allowed to spend 9% of their income on lottery tickets, I don't see the justification for preventing unaccredited investors from investing in whatever they want.
All it does is eliminate the long-tail of small companies and nonprofessional investors from participating directly in a key sector of the economy.
Ideally the SEC's mandate would be limited to going after P&D groups and other scams, and no longer include enforcing restrictions on selling securities to unaccredited investors as a non-public company.
If the poorest households are allowed to spend 9% of their income on lottery tickets, I don't see the justification for preventing unaccredited investors from investing in whatever they want.
All it does is eliminate the long-tail of small companies and nonprofessional investors from participating directly in a key sector of the economy.