And, they probably -are- protecting the public in this case...companies should not be allowed to sell shares to the public without disclosing important information about themselves.
Maybe this is the future growth export industry in the US: securities fraud of foreign nationals.
Yes we've heard this story before. Wallstreet used to export a very clever but very volatile financial instrument called a Mortgage-Backed-Security to the Europeans banks (and anyone else foolish enough to buy them). Wallstreet made lots of money in fees on those deals, and I suppose made the Europeans banks lots of money for awhile. Well until the underlying US mortgages went bad in 2007, and then the European government had to step in to keep their banks solvent.
Slashdot Mirror
And, they probably -are- protecting the public in this case...companies should not be allowed to sell shares to the public without disclosing important information about themselves. Maybe this is the future growth export industry in the US: securities fraud of foreign nationals.
Yes we've heard this story before. Wallstreet used to export a very clever but very volatile financial instrument called a Mortgage-Backed-Security to the Europeans banks (and anyone else foolish enough to buy them). Wallstreet made lots of money in fees on those deals, and I suppose made the Europeans banks lots of money for awhile. Well until the underlying US mortgages went bad in 2007, and then the European government had to step in to keep their banks solvent.