The Problem With Accredited Investor Rule

The rules are paternalistic and they put aside the fact that this isn't the right type of decision for any government regulation telling people how they can and cannot invest their money. We have folks like you talked about who might know an awful lot about an industry, but they themselves don't have a lot of money. They're prevented from investing in these types of investment by the accredited investor rule. And this wealth test is a really poor bright line rule for dealing with the risks that the rule claims to be dealing with.