From: Linwood Bond
To whom it may concern:
Further regulation of the types of individuals able to invest in hedge funds solely based on net worth smacks of class warfare. By proposing such a regulation, you are only setting up the "poor" (those worth less than 2.5 million USD) to have an excuse to levy heavier taxes and distributive requirements upon the "rich" in the years to come. If these hedge funds outperform the market, there will be an uproar among the "poor" that they were precluded from taking part in the wealth creation. In my opinion, this will only further aggravate class warfare. My proposal is to require each investor invested in hedge funds to express an understanding of the risk that they are exposed to in such devices. This can be accomplished via a mandatory examination, which would confirm an individual's understanding of investments, or some similar device.