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The people who invested in Bernie Madoff funds were accredited. They believed they ought not ask questions and rock the boat. Trump University also had accred
by say_it_as_it_is 7y ago
The people who invested in Bernie Madoff funds were accredited. They believed they ought not ask questions and rock the boat. Trump University also had accredited investors. Softbank has accredited investors.
It seems that being an accredited investor isn't protecting anyone from fraud.
- chillacy 7y agoCareful not to equate the presence of false negatives with the absence of true positives. Just because there are accredited investors who were tricked doesn’t mean that there wouldn’t be even more unaccredited investors who could have been tricked.
- say_it_as_it_is 7y agoOf course there will be more tricked unaccredited investors because there will be more of them and government can't guide the hand. My point is that the accreditation rule is moot, regardless of income level.