Decinding who's Rich (or smart) enough for high risk investments

http://www.nytimes.com/2012/01/14/your-money/deciding-whos-rich-or-smart-enough-for-high-risk-investments.html?pagewanted=2&_r=1&ref=your-money

The government has issued that only those rich or smart enough can invest in private stocks. I don't think it is fair that the government is deciding what people can or can't do with their own money, but I can sort of see where they are coming from. Only the sophisticated can purchase these unless they are rich, which I personally don't think is completely right. They just dont seem to want people to be going into high risk investments if they dont have the money or the smarts to do something with them.