It started after congressional hearings involving Harvey I Houtkin. Author of Wall Street Buried Treasure-from inside flap-He has seen how conventional Wall Street wisdom works against the average investor.
Mr. Houtkin set up his own trading group. Made of ordinary people, tutored them of how to make money daytrading.He succeeded. As a result, this intrusive $25,000 rule was applied. Nothing surprises me, Congress for the little guy? Nope