Your bi-partisan politicians at work: floodgates to open to Wall Street misinformation

The hucksters are about to fill the airwaves with misinformation. From the New York Times:

Soon retirees and other investors will be barraged with advertisements for private stock offerings — via mail, cold calling, television, radio, billboards, the Internet and so on.Such advertising, which used to be banned under federal securities law, will make it easier for hedge funds, venture capitalists, start-ups and other nonpublic companies to find investors. It will also make it easier for hucksters and rip-off artists to lure people into unsuitable investments and outright frauds because private offerings are not subject to disclosure requirements and other investor protections that apply to publicly held companies. Bipartisan majorities in Congress and President Obama are to thank for this development. Bowing to the financial industry, they joined forces last April to pass a law that requires the Securities and Exchange Commission to lift the ban on mass advertising of private offerings.

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Modern day conservatives even too much for Judge Richard Posner

From the Atlantic, word that a noted conservative, Judge Richard Posner, is wary of the antics of the modern day Republican Party:

A conservative federal judge appointed by Ronald Reagan said in an interview published Thursday that the Republican Party has gone “goofy” and that “these right-wingers who are blasting [Chief Justice John] Roberts are making a very serious mistake.”

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