January 27, 2007
I believe SEC should eliminate net worth requirements as they limit the opportunities available to the average American.
It is time to change a system where 95% (and maybe soon to be almost 99%) of Americans are treated as second-class citizens based solely on their income and wealth and not on their abilities.
It is wrong to deny a person equal opportunity and access to what are the best managers in the world, based solely on old rules designed for a different time and different purpose.
I encourage the SEC to eliminate net worth requirements and make opportunities available to the average American which today are available to many in the rest of the world.