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Not sure if 'Modernizes' is the appropriate term, but it is an interesting an impactful update.
user-inactivated · 1568 days ago · link ·
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More like irrational exuberance. The "accredited investor" phrase is used when dealing with risky assets under scant oversight. The "you must be this rich to play" threshold is so that you can be assumed to have generated enough wealth to be cautious about blowing yourself up, so they take off the guide rails. This will basically allow any dumb-ass fund to sell any dumb-ass thing to any dumbass out there and when they get blown up, the dumb-ass fund will be able to say "they were an accredited investor, they knew the risks" and pocket the vig.
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user-inactivated · 1567 days ago · link ·
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