Comment: They actually had a big fight

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In reply to comment: Interesting post. (see in situ)

They actually had a big fight

in the beginning over the right to offer business equity in return for 'open call' type of donations. I think that was the gist of it. The SEC fought them for 2 years or more and finally set limits on how much each investor could donate/invest based on their income level. So it still kind of goes back to the control system where only the big boys get to risk a lot on the best deals.

Either way, I'm with you in thinking this is a great step in the right direction.

Do you think the rest of the plan would make a dent in the banker's wealth? My estimation was that the tipping point would take about 8% decline in recurring revenue to do so.