Dodd’s banking “reform” will hurt start-ups

One of the more curious provisions buried in Dodd’s 1,300 banking bill is an attempt to kill off “Angel Investors” – rich people who invest their own money in Silicon Valley start-ups. Dodd raises the minimum wealth requirement for such investors to $2.5 million from $1 million, and requires the entrepreneurs to file with the SEC and wait 120 days for review of their business plan before accepting any money. That’s not how business works with start ups and presumably Dodd knows this, so the question is, why is he doing this?

I really don’t know, unless it’s antipathy towards small businesses – could that be?

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One response to “Dodd’s banking “reform” will hurt start-ups

  1. Anonymous

    Perhaps some of the billionaire VCs (many of whom are G550 commies who donated to Barry) want gvt help in killing competition
    Keeps prices down (and enhances returns) when less capital competing for the few good ideas

    Corporate welfare…