No doubt the SEC meant well when it raised the net worth requirements for individuals who want to invest directly in hedge funds. I mean, the SEC had to do something once registration was no longer an option. But the response from the public has been interesting to say the least. More than a few have written in to note, often with a touch of sarcasm, that people do not need the government to protect them from themselves. Why should they be denied just because they aren't rich? It's a powerful point rhetorically. One reader suggested a test that investors must pass before being able to invest. This is actually a complex issue. It would be very tempting for people to gamble on these vehicles--a terrible idea for almost all (even the wealthy). But then again, this is America--we're free to make ourselves miserable.

For more:
- here's a Fortune article