Is it wise to Discuss Safe Act on BP

[Chris C.]

I have been involved in an excellent discussion about the Safe Act. The question is what type of liabilities or you opening yourself up to by discussing the Safe Act on BP. With it being so vague and implemented in such varied ways any investors compliance could be called in to question. Below is an excellent question posed to me by Financexaminer and my response. What is your opinion of liabilities or if your brave enough lets talk about how the Safe Act effects what we are doing and our compliance questions.

Originally posted by Financexaminer:

I'm sorry, but I can't buy the reluctance to discuss compliance issues in public unless there is the likelihood that someone feels they may not be in compliance. If anyone is not willing to show their cards, I just can't play in that game.[\quote]

Originally posted by Chris Creasman:

I can understand your feeling this way. However from the other perspective with the vagueness and inconsistent implementation of the Safe Act I do not believe that there is an investor on this board who does not feel it possible to be out of compliance with this Act. Even straight out selling a home that is not your residence and telling a potential buyer about the interest rate of the bank down the street could be interpreted as a violation of this act. Although extreme I am certain you can see my point. Do a Google search of your name and then your screen name. You will find all of your BP post. Is it possible for a hyperactive government official to end up costing you thousands of dollars in legal fees to prove you are in compliance based on your postings here? Even if I win I still lose in legal fees to protect myself.
If I ever became involved in any type of litigation is it possible that in our quest to learn from each other that some postings could be used against me. Is it wise to post even some of the things that I have posted in this post? Probably not but I will be starting a thread on if it is safe to discuss the “Safe Act†in public forums. Hopefully we will determine what we can say and, as Marc recommended to me on the phone, have a frank and open conversation about the “Safe Actâ€.