Honestly, it looks like it's a very small amount of work required on the part of VCs – and only the larger ones, at that.
But it's still stupid. I know we're not exactly an unbiased bunch when it comes to VC firms here on HN, but you don't have to spend too long thinking about it to figure out that VC is about as isolated a risk as one can make. If a firm managing a 401k is throwing money into startups, now that's a WTF scenario. But a VC firm putting money into startups? I'm pretty sure they know what they're getting into, and I haven't heard of VC firms repackaging investments into startups as default obligations to sell to other companies. I mean I guess they could? That seems quite a bit more insane than the already insane CDS stuff that was going on.
All of this knee-jerk legislation scares me. Both parties are guilty. Leave ALONE the sectors of the economy that aren't doing anything wrong.
But it's still stupid. I know we're not exactly an unbiased bunch when it comes to VC firms here on HN, but you don't have to spend too long thinking about it to figure out that VC is about as isolated a risk as one can make. If a firm managing a 401k is throwing money into startups, now that's a WTF scenario. But a VC firm putting money into startups? I'm pretty sure they know what they're getting into, and I haven't heard of VC firms repackaging investments into startups as default obligations to sell to other companies. I mean I guess they could? That seems quite a bit more insane than the already insane CDS stuff that was going on.
All of this knee-jerk legislation scares me. Both parties are guilty. Leave ALONE the sectors of the economy that aren't doing anything wrong.