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First, Mark has to understand the impact of the Trust Indenture Act of 1939, which requires bonds to conform to registration if they are being issued in amounts over $5 million and do not mature within a year. Think about all the poor slobs before this Act who thought they were lending money on safe-ish terms, only to end up with wallpaper and no cash returned to them for the loans they made.
As part of this Act, Facebook would have to appoint a professional trust person, someone who is paid...
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