Matt Levine’s Money Stuff: Florida Banned Some Banks

Bad actors

A central problem in securities regulation is that you want companies to be able to raise money, and you want ordinary investors to have access to the good lucrative investments, but you do not want the ordinary investors to get scammed. It is hard to get this right. There are various controversies about, for instance, the amount and types of disclosure that public companies have to provide, or about who gets to be an “accredited investor” and buy shares of private companies. Making it easy to sell stock has obvious benefits, but it also opens the ...