AS Congress considers President Obama’s job package, one measure seems to have rare bipartisan support: a proposal to loosen some of the outdated securities regulations that hamper small businesses in raising capital.
The Obama administration, not surprisingly considering its own success in gathering small donations during his campaign for the presidency, is supporting crowdfunding, a financing model that relies on collecting small sums of money from many people over the Internet.
Crowdfunding has the sort of populist, common-sense appeal that resonates with free-market libertarians and champions of the working class. By marrying online social networks with finance, this model offers a more democratic model of finance, in which individuals can directly fund other individuals or businesses that they deem worthy, without going through a bank or Wall Street middleman.
To read the full, original article click on this link: A Proposal to Allow Small Private Companies to Get Investors Online - NYTimes.com
Author: AMY CORTESE
