Jobs Act Turns Financial System Into Larger Ponzi Scheme

In this video William K. Black states that this is a dream bill for any pump and dump stock issuance scam…..   Haha.  We’ve seen that before.  It was the 1990s under Clinton.  Well, that still exists but the dynamics have changed.  Companies are SELDOM brought into the PUBLIC equity market for the reasons it was created.  It is instead used to pilfer society and make executives rich.  A prime example of this is the coming Facebook IPO.   It is being used to loot the company and society; privatized gains and socialized losses.   Its IPO, which by the way is astronomically overvalued, is to make its senior executives rich.  That is NOT the function of PUBLIC capital markets. 

Any time Republicans and Democrats agree on something, it is most often for the benefit of their mutual corporate masters.