Nephros Inc (NEPH)

[mikeyk]

That would just benefit the wealthy even more, they already control all the money and have insider access that the normal investor doesn't have information on. If you forced the FDA to answer every question, that agency would be subject to regulatory capture, just like the banks and big oil.

Deregulation of the banking industry, allowing regular banks to also become investment banks, gave the insiders access to some very unfair information to use to their advantage. They now know exactly what a company has in it's bank accounts, what their account receivables are, what the companies expenses are, how much they pay in salaries and bonus's, what kind of loans they take on, what their debt load is, if they can make their debt payments, etc.... Do you really want the wealthy to have even more insider trading information? You'd see bear raids on every single biotech or pharma stock awaiting an FDA approval just before the approval came out, or you'd see Wall Street create false panics, days or weeks ahead of time, causing people to dump their shares at a loss, and Wall Street would be waiting there with their wallets wide open buying up all your stock, just to sell it back to you once approval comes out.

The FDA and the companies filing for approval operate like an attorney/client privilege right now, and thats the way it should stay. Wall Street has more than an unfair advantage already, no need to make it even more unfair.