> When the primary determination is whether you already _have_ money, rather than education, professional history, earning potential, or a history of demonstrat

> When the primary determination is whether you already _have_ money, rather than education, professional history, earning potential, or a history of demonstrated ability to make informed investment decisions... This is the case because many regulations (Tax code, laws) favor the wealthy. If we didn't have the SEC regulations, then the clever and wealthy would prey on the poor and uneducated. This is textbook what happened in the 20s. Honestly, the SEC is probably one of the last decent regulatory bodies of our government.