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Taking pot shots at angels: Federal regulation could kill investing

George Bernard Shaw, the Irish author, wrote that “in heaven an angel is nobody in particular.”

Sadly, the same appears to be true in Congress these days.

In the rush to punish Wall Street for sins real and imagined, Capitol Hill may also precipitate a fall from grace for a class of Main Street financiers essential to America’s innovation economy: angel investors.

The financial sector reform bill being pushed by U.S. Sen. Christopher Dodd, D-Conn., takes direct aim at the wings of angel investors for reasons that defy explanation. If passed, this “Washington-knows-best” attempt to regulate some of the nation’s most productive risk-takers could destroy the entrepreneurial economy.

Tom Still

Full Story: http://wistechnology.com/articles/7308/

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