President Obama has signed today the "fraud-friendly" JOBS (Jumpstart Our Business Startups) Act, which one leading economist has referred to as an "anti-jobs act" that will lead to more fraud.

 

Commenting on the “Jumpstart Our Business Startups” Act, economics and law professor William Black wrote in an open letter signed by other analysts: "The JOBS Act is something only a financial scavenger could love. It will create a fraud-friendly and fraud-enhancing environment. It will add to the unprecedented level of financial fraud by our most elite CEOS that has devastated the U.S. and European economies and cost over 20 million people their jobs. "