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HOT LINKS: SEC Seeks Stock Exchange Only For The Rich

Papal Ponzi

Bernanke could be the next Pope
To help fill the sheeple with hope
In times of despair
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His printing will help them to cope

The Limerick King


Monday linksbomb.  30 stories.

SEC Panel Seeks Stock Exchange Only For The Rich

WASHINGTON (MarketWatch) — A panel that advises the Securities and Exchange Commission on Friday recommended an exclusive exchange be created for micro and small-capitalization public companies that would only be available for high net-worth investors.

The panel, the advisory committee on small and emerging companies, voted to urge the SEC to support the setting up of an exchange for small publicly traded companies that would only be accessible for high-income individuals such as so-called accredited investors, who must have net worths, excluding their homes, of $1 million or more or income of $200,000 or more for at least two years.

Companies listing on an exchange set up for high-net-worth investors may not be required to provide costly prospectuses and other disclosures that are necessary when retail investors are involved. Backers contend that this would drive down costs associated with public offerings and could encourage private companies to take the plunge into becoming almost-public companies. However, retail investor advocates worry that small investors would be blocked from making desired investments.

Stephen Graham, co-chair of the panel, told MarketWatch that it is difficult for small private companies to “cross the line” and become publicly traded because of the costs involved in being publicly traded. He said the SEC would be responsible for determining what kind of disclosure would be required for this group.

Retail investor advocates were less than thrilled at the idea of an exclusive market for high net-worth investors. Charles Rotblut, vice president of the American Association of Individual Investors, told MarketWatch that it’s a question of fairness and access.

"An accountant that does not have the wealth to be an accredited investor, but understands financial statements, would not be allowed to invest."



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Obama Droner Alert...

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Reader Comments (14)

How curious that the PTB unveil this formal proposal for Jim Crow Capitalism--separate but equal stock markets--on the watch of the nation's first black president. It's similar to the Eric Holder-led DOJ formally declaring that bailed out banks are above the law, while secretly preparing memos purporting to convey the exclusively dictatorial power of judge-jury-executioner to Obama. For those keeping score at home, the goves are officially off.

Surprisingly, the gang rape of the constitution appears to have roused Americans from a long and deep slumber, as they now rate Obama a greater menace to civil liberties than Bush43...

Feb 11, 2013 at 7:49 PM | Registered CommenterCheyenne
"Obama To Bypass Congress To Seal Legacy With New Agenda"

We have a criminal government that destroyed the Constitution and has become the essence of tyranny. If people don't stand up, the elite parasites are going to have a feudal paradise with 300 million Serfs. Hell of a thing to happen to the Land Of Liberty.

Feb 11, 2013 at 9:53 PM | Unregistered CommenterSagebrush
To some their dog is their most loved possession.
What happens when cops shoot the "wrong mans" dog? Could it turn into a Christopher Dorner event?
Feb 11, 2013 at 10:05 PM | Unregistered CommenterTR
Here is one for you. I have spent the last couple weeks looking into a progressive site trying to get a feel for what these folks are about. Quite frankly you can't communicate with them. They tend to left socially and all that, but really just slam the shit out of any one who suggests a view contrary to their own. I was totally blown away by one person who just wrote a whole essay on the constitutionality of the use of drones on citizenry and the collateral damage done by these machines. They actually sided with the admin on the whole issue. Completely blown away. Though some folks were outraged they were tersely dismissed by the author as being fools. I am just completely blown away by this reallly. I fear we are lost.
Feb 11, 2013 at 10:07 PM | Unregistered CommenterSKINFLINT
EXCLUSIVE: David Petraeus was brought down after betrayal by vengeful CIA agents and his own bodyguards who made sure his affair was exposed, claims new book

Feb 11, 2013 at 11:34 PM | Registered CommenterDailyBail
The New York Times has called on Senate Majority Leader Harry Reid to remove New Jersey Democratic Sen. Bob Menendez from his chairmanship of the Senate Foreign Relations Committee.

Feb 11, 2013 at 11:34 PM | Registered CommenterDailyBail
Police seeking Dorner opened fire in a second case of mistaken identity

Torrance police say the man was driving a pickup resembling the fugitive's. The incident happened just after the LAPD fired on women delivering newspapers nearby.

Feb 11, 2013 at 11:35 PM | Registered CommenterDailyBail
Feb 11, 2013 at 11:40 PM | Registered CommenterDailyBail
North Korea likely conducted its third nuclear test today, a South Korean government official said, escalating tensions with an international community that has sought to curb the totalitarian state’s atomic ambitions.

Feb 11, 2013 at 11:41 PM | Registered CommenterDailyBail
"What happens when cops shoot the 'wrong mans' dog?"

Many times, that wrong man gets the next round. See, e.g., http://www.sacbee.com/2013/02/04/5165245/motive-still-unknown-in-calif.html

"Here is one for you... They actually sided with the admin on the whole issue."

Life's too short to waste on partisan sites like that, imo. How can anyone with a brain trust such abject partisan nonsense after what we've seen over the last 10 years? It makes me wonder who the site administrators are working for. I tend to trust people willing to savage their own "party," when called for. For example, Karl Denninger has repeatedly kicked the dogshit out of the Tea Party, for example, for whoring itself out to the banksters. Similarly, Yves Smith has shoved Obama's head down the toilet every week for the last 4 years. Whether or not you agree with them, neither their independence nor their motives are ever an issue.

Other examples that come to mind are Paul Craig Roberts (R?) (whose banishment from MSM is nearing its 10th anniversary) and Glenn Greenwald (D?), who relentlessly exposes the mindless hypocrisy of Obamatrons nearly every day.

Long way of saying stick with independent people, avoid herding sites.
Feb 11, 2013 at 11:58 PM | Registered CommenterCheyenne

Here you go:


Your dog really does understand you... They're more likely to steal food if they think you can't see, research reveals
Feb 12, 2013 at 1:41 AM | Registered CommenterDailyBail
"Financial exploitation of all productive labor by paid employees and slaves should be banned and only wealthy swine given this opportunity." O.K. Also legalize daily kneecapping and mugging of rich swine returning home after a day's labor exploitation. All bets covered.
Feb 12, 2013 at 4:59 AM | Unregistered CommenterHoward T. Lewis III
The market for the rest of it will be a Ponzi scheme to drain the future away from the rest of us.
Feb 12, 2013 at 10:36 AM | Unregistered CommenterS. Gompers

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