Thursday, March 8, 2012

The Latest House "Jobs Bill" HR:3606

This puppy defines an "emerging growth company" as any business with gross revenues of $1BN or less. That's nine zero's behind the "$1". No shit..and that is the definition of a company that needs help??

It removes the Dodd-Frank requirement for a share holders vote on executive compensation, for "emerging growth companies".  So these guys will continue sapping profits/growth.

Companies registering as an "emerging growth company" don't have to provide more than 2 years of audit data, so the biggest hedge fund losers on Wall Street, can easily qualify for the program (get richer!).

It limits disclosure requirements on Auditors of an "emerging growth company".
This is pure genius, and sets up the next big Market crash beautifully.
Did you know the rich get richer when the Market crashes? They do.

This blocks the FEC from regulating an IPO of any "emerging growth company". (Why have a FEC at all??)

I could be wrong, but Section 1.C seems to eliminate insider trading laws for "emerging growth companies", they can talk to potential investors openly.

This requires the FEC to consider financial filings "confidential", just because they were filed after 2009 (blatantly hiding information from investors and the public).

Here's the bill;

This bill passed the House with strong bipartisan support, so we should all be aware that the US Government is selling us out at every turn, to big business.  WAKE UP!

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