Dodd’s bank reform bill is going to crush YOU

The Dodd Bank Reform Bill working its way through Congress. It has provisions in it that crush startups. Oh, BTW Fred, this isn’t “shrapnel”….this, along with this is the result of them taking dead aim at entrepreneurship and the private sector.

The most offensive provision is that in order to invest in a private company, you will need to prove that you have a net worth of $2.3 million or make $450k/year of income. That’s their definition of a “sophisticated” investor. Until you’re to that point….they will “protect” you, from yourself. On the flip side, this means a dramatic reduction in the number of people that are “eligible” to invest in your startup.

This is what happens when Statists take the wheel of government.

They’ll sell 100 lotto tickets to a drunk woman who just cashed her government check and tell you it’s for the common good of improving horrible government schools. That’s who these people are.

They are so arrogant that they actually BELIEVE that they know better than you do how you should live, produce, spend and invest. They are elite, and they don’t mind conforming YOU to THEIR rules. They see themselves as slave-masters with a heart of gold, who “know what’s best” “for the people”

Their scams are funded through the threat of sanctioned violence, authorized at the ballot box by the very people who they deem too unsophisticated to make fiscal decisions, and unwillingly, forcibly funded by the people who they say are capable of avoiding a scam.

How about this? Any person entrusted with the right to vote for representatives in the federal government should be entrusted with the right to invest the fruits of their labor in any way they see fit. Mr. Dodd can make the decision concerning which of those rights he’d like to remove from the “unsophisticated”.