February 24, 2007
The existing definition of "accredited investor" should remain at the current levels. While one million dollars is not what it used to be due to inflation and devaluation of the dollar, it is still not an inconsequential sum. Many like myself who reached this level over many years of careful saving and investing would be shut out not only from certain types of investments, but also from sophisticated information which is provided only to the so-called "accredited investor" Anecdotally, in today's financial environment, there are many persons who are almost accidentally qualified numerically as "accredited investors" but who are in fact intellectually and mentally unqualified to act as such.