http://legalizecrowdfunding.org/ is the link to the site mentioned in the article, in case it wasn't clear, sorry
(and technically some of the exceptions i listed there are actually "exemptions" pre-empted at the federal level)
First, it is not a federal law that prohibits non-rich people from investing, it is state laws, generally known as "Blue Sky laws", and they differ by state. It is not the individual who is prohibited from investing, it is the startup which is prohibited from allowing the individual to invest, and particularly from making a "public offering", e.g. putting an ad in a public place soliciting investment.
Many of the state laws recognize the following exceptions to the general principal that non-rich people can't invest in startups: People who know the founders well are permitted to invest; professional investors are permitted to invest; employees of the startup are permitted to invest. I think there are some other exceptions. IANAL.
US founders: register at this site to show how many jobs you could create if the crowdfunding law passed!"
Link to Original Source
Here's my solution. Create a position new directly elected (like the president) official whose only job is to fight corruption and oversecrecy in government, and whose only powers are:
* Access to information. Like the president, the tribune automatically has the highest possible security clearance, and is empowered to demand any information from any government agency or offical.
* Declassify information. Like the president, the tribune has the power to unilaterally declassify information.
* Prosecute. The tribune has the standing to take the government to court over any issue relating to infringement of rights, corruption, or a violation of procedure.
More details at:
Disturbing news indeed.