February 17, 2007
As an investor I'm very much opposed to the proposed changes in the requirements for being an accredited investor. If these changes had been in effect just one year ago, I wouldn't have qualified to enjoy the secure stable income I receive from private partnerships. These investments have literally been a godsend.
By changing the accreditation guidelines you will only be reinforcing the cliche that "only the rich get richer". You will be putting out of reach many sound, high quality investment vehicles to people such as myself.
Why do I not deserve to have access to these? Just because of my net worth? There are far riskier schemes available to those with lower net worths, so by changing these rules you are not "protecting" anyone. Rather, you are depriving them of access to some of the safest investments that used to be only available to the uber-rich.
If you're going to require anything, then require that an investor prove a certain level of KNOWLEDGE before investing in private partnerships.