Aug. 16, 2022
August 16, 2022
Dear SEC,
Some basic wisdom from rural America regarding the hiding of trades by too big to fail firms investment funds. Transparency and sunshine never hurt anyone doing the right thing.
It is disingenuous to say it will cost too much to provide open, transparent, and fair information to market participants in a timely way. We know the smart money tracts information in nanoseconds, to say that a 15-minute reporting interval is a burden is laughable. Real patriots, like me, support the 15 min reporting rule. Moreover, to allow the Big Wall Street players to provide information in the aggregate is also laughable How can you say you are being transparent, when bundling information? That is putting lip stick on a pig. Its still a pig and aggregate data is not transparent.
A level field is also something that is crucial to functioning markets short selling in the dark\" harms true competition and price discovery. The idea that a small number of short-selling funds \"know best\" and can drive companies out of business is disgraceful, shameful and un-American If a company is being attacked by short selling funds greater transparency will help the company either improve or fold. Giving the smart money the advantage, without a fair fight, to put hard working Americans out of work and to bankrupt a company is plain wrong. WRONG.
Now American retail investors will benefit from transparency in a timely way. If the company is poorly run and managed then there is nothing to be feared by the hedge funds being forced to disclose their positions if they are right. If they are wrong, then welcome to the normal world of risk and consequences. If the market participants need to hide their actions then regular Americans who invest in the markets will be handicapped even further. There is no reason to do this other than lining the pockets of the people who need to cheat to win.
Ultimately, we must protect our markets from unscrupulous players who want to undermine American companies, working American people, and American retail investors. This ability to lend securities without transparency undermines America. Foreign investors can attack the very soul of our financial markets and we must enforce and defend our free, fair, transparent and open markets.
In closing, Americans do not want to bailout Wall Street losers- again Please do not cave to the predatory demands of funds that want to undermine our companies and country. Moreover, lets find ways to enforce the rules and laws we already have. Make fines 100% of profits.
Thank you.