SEC Mulls Changes in Accredited Investor Standards

The Securities and Exchange Commission may soon increase the minumum net worth requirements for investing in hedge funds (read about it here). Is there really anything more sophisticated about someone with a net worth of $2-1/2 mln vs $1 mln? In the grand scheme of things, the change won't impact star managers who with the snap of a finger will continue to raise billions at a time, but for the smaller guy who wishes to strike out on his own to start a hedge fund, it's just another larger stumbling block to overcome.