Member since Nov 25, 2010



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Re: “Alms for the Creative: Crowdfunding means passing on traditional funding to pass the collection plate

I have a question. Why do we continue to try to change a system that we can actually do without (or at least LEGALLY circumvent)? One easy way to lessen the cost-prohibition of registering with the SEC on an individual basis, is to form a registration cooperative. This cooperative would form to register and issue securities on behalf of the it's members...simple concept! Another way is to have this cooperative solicit service donations (volunteer) lawyers to do the registration. Still another way is to form an LLC, adding members based on financial contributions and have the profit flow through to members on a defined pro-rata basis. I think the wisdom of the SEC Act of 1933 still applies. BECAUSE of the internet and mass communication, it would make it easier for fraudsters to plunder bizillions of investment dollars from unsuspecting laypersons via email. The key to proper investment is active partnerships, as opposed to passive investments. Skin in the game tends to bring out the most efficient and ethical distribution of wealth. Regulation is not the enemy, the lack of innovation and non-cooperation is!

Posted by thelosopher on 11/25/2010 at 10:22 AM

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