February 6, 2007
The accredited investor rule is not broken. Let's keep it that way. Changing the rules will hurt investors and will hurt the American economy.
Individuals earning $200,000 a year or with a net worth in exces of $1,000,000 are surely savvy enough to understand that investment requires due diligence and involves risk. Keeping such individuals from investments that represents a potential for great profit is paternalistic and cannot possibly advance their interests.
Additionally, the American economy (which continues to be the envy of the world) is fueled to a large extent by these investors. Do you really think it's appropriate to throttle back on growth?