January 7, 2022
It is vital for a free and fair market for market participants such as myself to have access to information regarding loaned shares.
These loans can currently be lent by brokers without my knowledge or consent if I am a beneficial owner of the shares, and these loans have the effect of diluting the value of my investments and corrupting the integrity of my votes in security issuer affairs.
Without any public visibility (or even SEC visibility) into loaned shares, it is somewhere from difficult to impossible to gauge the risk on my investments - and that is not a fair market, it is a market where rules can't be enforced and there is no accountability for cheaters.
Further, it is inappropriate to use a loaned share to close a Failure To Deliver. There is no delivery of a real share in this case. This rule falls short in that regard, yet is still a step in the right direction.
Every day, my faith in the market and the overseers who regulate it waivers. Until this corrupt and fraudulent aspect of the market is changed, I will illuminate these issues to my loved ones. I have family in both the FBI and Navy Seals - their faith in the American economic system is wavering as they see how the average person is exploited by the oligarchical political and banking class.
Sincerely,