February 1, 2007
I do not support raising personal net worth requirements to qualify someone as an accredited investor.
Those who are intelligent and sophisticated enough to seek out investment opportunities which meet their goals likely risk perjury as it is by simply stating that they are accredited investors, given that there are no "accredited investor police." Those who are thwarted by the current rules are sufficiently protected as it is.
If it is truly the SEC's wish to protect unsophisticated investors, then why don't you clean up the glaringly illegal and grossly unfair practices which take place daily in the stock market and cost retail investors countless thousands of dollars (the very same dollars you're trying to keep them from losing in "risky" investments.)
If you would like a list of the abovementioned practices, please contact me, I wll gladly provide you with one.