February 17, 2022
In the days of the Pony Express, transit times were 3+ weeks for a transcontinental post mail.
In the days of High Frequency Trading and firms bidding to have the best server position at the NYSE in order to shave microseconds off trade times, retail demands instant settlement. When market makers run a dedicated fiber line from Chicago to New York, its obvious were not in Kansas anymore.
When FTDs arent tracked and closing out FTDs with real share delivery is not required, things like GameStop happen. Retail has learned about DRS, Pandoras box is open and SEC now senses the urgency. Hester Pierce is a paid malevolent actor for short hedge funds, please root her out for retails benefit.
Every other thing in existence you have to buy it before you can sell it. Theres no natural system of possesion or ownership outside of the stock market that lets you infinitely borrow and sell something that doesn't exist and that you dont even own. A free market exposes losers without ever needing to short a single share.
Now to see if the SEC actually cares about retail and moves to instant settlement T+0.