March 3, 2007
I oppose the proposed changes to the definition of an "accredited investor".
In fact, there should not be any restrictions on the investments that I, as a single woman, a free citizen of the United States can make.
The world is changing very fast. It is illogical to rely on regulations to protect people from the inherent risks of investments. The world always has risk. All investments have risks. Not investing is also a risk.
When the government or any institution takes the role of "protecting people" then the "people" lose their ability to assess the risk in their daily lives.
Keeping money in a bank has risk. Government bonds have risk. Corporate bonds have risk. Real estate has risks. 1st mortgages have risks. Stocks have risks. Investing in a business has risks. Mortgage pools have risks. Buying goods for resale on ebay has risks. Commodities have risks.
Do not forbid me from investing in anything that I want to invest in.
And most especially, a government agency should not stop me from investing in something I want to invest in when the United States government is not capable of being a responsible steward for my tax money or my social security money.