Legislative Alert: "Jumpstart Our Business Startups (JOBS) Act" (HR 3606)

Abstract

[Excerpt] On behalf of the AFL-CIO, I am writing to express our continued strong opposition to the 'Mumpstart Our Business Startups Act" (H.R. 3606), and to urge you to vote no when it is considered by the House later this afternoon. Although the House passed the bill by a wide margin on March 19th, the ensuing Senate debate brought into starker relief the very serious risks the bill poses to our financial regulatory sector. Over the past couple of weeks, every major investor organization, the editorial boards of many major newspapers and even the Chair of the Securities and Exchange Commission have warned that H.R. 3606 could reopen the door to the kind of market manipulations and stock bubbles that caused our current economic crisis.