If you are a blogger, please re-post this story from SecondShares.

“The second thing the Dodd Bill proposes is to eliminate the existing federal pre-emption over state regulation of “accredited offerings.” This means that venture and angel financings would be regulated state by state, creating a ton of rules and regulations that each financing would need to be subject to. Each financing would require startups to register with the SEC, which could take up to 120 days to review the filing. This may in itself kill most angel investments, since angels like to react quickly to the market, and most technology investments are clearly time sensitive.”

http://www.secondshares.com/2010/04/27/how-the-dodd-bill-may-impact-the-secondary-market/

Who the hell writes these bills? Wasn’t the whole point of finance reform to stop banks from being reckless?