Merkley: Crowdfunding Exciting New Opportunity for Small Businesses and Startups

[ProSense]

Merkley: Crowdfunding Exciting New Opportunity for Small Businesses and Startups

Merkley Crowdfunding Amendment Included in Bill Signed By President Obama Today
April 5, 2012

Washington, DC – Oregon’s Senator Jeff Merkley issued the following statement after President Obama signed into law the “JOBS” Act, which includes an amendment he sponsored to provide for crowdfunding. The crowdfunding amendment, cosponsored by Senators Michael Bennet (D-CO) and Scott Brown (R-MA), allows small businesses and startups to raise capital online, while instituting strong protections for investors:

“I am very pleased that my crowdfunding amendment is now law. Crowdfunding opens up exciting new opportunities for small businesses and startups across America to raise capital from investors online. The potential is enormous. Entrepreneurs, who previously had to rely on capital from angel investors, will now be able to receive small seed investments from a larger group of investors to create new companies and jobs.

“Exciting new opportunities usually come with risks, and crowdfunding is no exception. The original House version of the bill paved a path to predatory schemes. It required no information to be presented, and if startups put forth information, there was no requirement of accuracy. The balanced approach we put forth with investor protections will provide a strong foundation for success.”

http://www.merkley.senate.gov/newsroom/press/release/?id=3EDA2A41-A636-4F64-89A9-96FABF492A82

Here is the President signing the bill: http://www.democraticunderground.com/1002522741

[MannyGoldstein]

1. "However, I voted against final passage today because"

“However, I voted against final passage today because the Senate did not address dangerous new loopholes in other sections of the bill. The overall package will allow companies to mislead investors, regulators and the public.”
-- Jeff Merkley

[ProSense]

2. That's not

in his current statement.

Wonder if he changed his mind?

[MannyGoldstein]

3. Nope

Looks like that *is* his current statement: http://www.merkley.senate.gov/newsroom/press/release/?id=a5897895-66e7-4917-b85d-3e5da4eedee9

Also: http://www.nationaljournal.com/whitehouse/obama-s-jobs-act-has-bipartisan-support-industry-critics-20120405

"But then Merkley ended up voting against the final Jobs Act bill, saying in a statement that although the crowd-funding provision was much improved, he couldn’t support the full package."

[ProSense]

4. Wait

Looks like that *is* his current statement: http://www.merkley.senate.gov/newsroom/press/release/?id=a5897895-66e7-4917-b85d-3e5da4eedee9

...March 22 is later than April 5?

[pscot]

5. Sounds like the "pump and dump' scammers

have been given a license to steal.