Geithner Wants to Regulate Silicon Valley VCs!

7 08 2009

Treasury Secratary Timothy Geitner (Associated Press)Associated Press Pic

While I never cease to be amazed at what Washington will propose, this one has to take the cake! Take a look at my earlier post about the unemployment rate in Silicon Valley. Just think of what VC’s do for the valley, then consider this from WSJ: “…Treasury Secretary Timothy Geithner wants VCs to be regulated as investment advisers by the Securities and Exchange Commission.” Hmmmmm SEC….same guys who along with Congress and the President still haven’t figured out how to reform the likes of Fannie and crew, who were deeply involved in causing the meltdown. Can you imagine VCs having to provide tons of data to the SEC, pay SOX compliance costs and be generally distracted so much that they don’t get the chance to help us pull out of this mess?

Very nice article over at the Wall Street Journal. Take a minute and read it all the way through and see if it doesn’t make your blood boil. Drop your comments below with your thoughts or take this handy little poll:




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