Sunday, July 27, 2014

Smell of the Greasepaint, the Funds of the Crowd -

Smell of the Greasepaint, the Funds of the Crowd -

'via Blog this'

This article might more aptly be titled, "The Worst Idea in the World", with apologies to Keith Olberman.

As we emerge from over five years of economic destruction wrought by "professional" money managers and other bad financial players, when we've seen how the game is tilted in favor of insiders and loosened regulations allow for it's unabated continuance, why would anybody think it a prudent idea to allow unaccredited investors, starstruck amateurs, to have unfettered access to investments in Broadway shows?

Plainly, it's the worst idea you could think of. SEC regulations were created to protect unsophisticated investors from being separated from their cash by any Max Bialystok-type con man that comes down the pike. Undoing these protections will unleash a torrent of losses by the very people that least understand or are most vulnerable to a smooth talking slimeball with promises of "Broadway glamour".

And I do mean slimeball. Anyone that will base their business on collecting funds from unaccredited investors is a walking ethics violation.

In a business when even supposed "professionals" are conned right out of their shoes, (Rebecca being only the latest example), this idea should close out of town, and be buried once and for all.

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