Right...I wonder how the public would react to those "protections" if they were dropped a bit, but still out of reach for the average person. Let's say $100k in assets, not including your home and property. Now, about 15% of Americans have access to this pool. Do you think the other 85% is going to be happy about this? Right now, the way the regulations are set up, it seems like such a small minority of people have access, that it isn't worth worrying about. But $1M is really just an arbitrary number.
Well, good, because that is what I was going for :) I think most people don't care about the arbitrary wealth limit on these investments because they either 1) don't know it exists, or 2) know it exists, but $1M is such a far off magical number that it's easy to think almost nobody has access to it. If the number was lower, but still high, I think people would see it for what it really is, and be upset that they are prevented by the government from using their money as they see fit, especially as it is the same government which runs the lottery and allows casinos to operate.
