Angel Investors “Up in Wings” on Proposed Federal Regs

The financial reform bill proposed by Senator Dodd’s Senate Banking Committee includes new restrictions on investors at the “angel” level, which could impact dramatically the existing angel-startup-VC business model, according to a number of experts.

VentureBeat puts it this way:

“Not surprisingly, investors aren’t happy about it, saying it’s “insane,” “frankly ridiculous,” and aims to “destroy Silicon Valley.”

The article continues with links to tweets/blogs/quotes from some of the investment community’s heavy hitters commenting on the proposed regs.

VentureBeat [Angels Sing: frankly ridiculous restrictions…]
But, Is Congress Listening? [Dan thinks so]

UPDATE: David B. Lerner rounds up the latest news [on his blog]