It looks like the House and Senate are close to an agreement on a final bill. Does it retain the changes to the definition of "accredited investor" that Frank and Dodd originally put in the bill? It would raise the minimum assets from $1 mil to ~$2.7 mil, annually adjusted for inflation, and the income limits from $200/300k to nearly $700k, also inflation adjusted. The analyses by experienced private equity and VC sponsors that I've seen say that will take out ~75% of potential investors for your fund. As somebody who wants to raise money one, this is a disaster.