Yet those products had some regulation and oversight and authorities still missed one of the biggest scams of all time when it all melted down in 2007-2008, socked American taxpayers with a multi-trillion dollar bill and vaporized some 10 million jobs.

FORBES: JOBS Act Will Open Door to Investment Scams

The Senate bill has tried to address this concern by ramping up the rate at the million dollar mark, according to Senator Sheldon Whitehouse in an interview with the Washington Post.

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