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Robert Kuttner: JOBS Act ‘just investor rip-off legislation’

By Eric W. Dolan
Monday, March 19, 2012 22:39 EDT
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Robert Kuttner via Current screenshot
 
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Robert Kuttner, co-editor of The American Prospect, warned Monday that the Jumpstart Our Business Startups (JOBS) Act would strip investor protections by easing various Securities and Exchange Commission regulations.

“It is just a scandal that this thing, which is just investor rip-off legislation, has gotten as far as it has,” he said.

Kuttner said it was “appalling” that President Barack Obama said he would sign the bill.

“The one thing we have going for us is, there are disclosure laws so that if investors have the wit to read the disclosures, they can protect themselves, and that’s what this retched piece of legislation would gut. Shame on anybody who votes for this.”

The JOBS Act easily passed in the U.S. House with bipartisan support. But some Senate Democrats have aired concerns about the legislation.

Watch video, courtesy of Current TV, below:

Eric W. Dolan
Eric W. Dolan
Eric W. Dolan has served as an editor for Raw Story since August 2010, and is based out of Sacramento, California. He grew up in the suburbs of Chicago and received a Bachelor of Science from Bradley University. Eric is also the publisher and editor of PsyPost. You can follow him on Twitter @ewdolan.
 
 
 
 
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