Fuck that. They put together misleading at best, fraudulent at worst, derivative financial instruments that were not subject to regulatory control or oversight.
What did the Democratic leadership learn from this debacle?
To cut back on regulatory oversight on IPOs, of course.
And call the deregulatory initiative a JOBS plan.
Didn’t Congress just pass a law that removes multiple transparency rules for IPOs, in addition to gutting the firewall between investment bank analysts and research specialists related to IPOs? And wasn’t it called the “JOBS” Act?