Aug. 16, 2022
August 16, 2022
It has come to my attention that the SEC had yet to pass the proposed rule for reporting. I will keep this simple and brief.
As a retail trader, transparency in markets and democracy is extremely important for me to be able to make educated decisions. Without transparency, I am at the mercy of larger players in the game. Wall Street historically has had less than 0 mercy for retail, and in order to protect myself from large entities, such as Citadel to name one such entity, I will need every tool of reporting possible that they currently possess. So far this proposal simply asks to level the information playing field so that we retail have a chance at survival against larger players. Please pass this new 15 min reporting measure in full.
The SEC needs help discovering abuses, and retail sleuths will help them make new fraud discoveries for enforcement purposes. NAKED Short selling is abhorrent in all forms, and to shine a light on a non problem isn't creating a problem. Shining a light on a severe problem does create a problem, for the abusers who target retail.
Long lending chains helped create the 2008 crisis. It is of national security interests to prevent a repeat of the 2008 crisis, and passing this proposal for transparency, in full as it was originally intended, seems to be a great way of keeping our nation secure,, as well as protecting retail.
Last, I will say very simply, if big institutions are against transparency, they can already see retails transactions. What are they hiding? They shouldn't be allowed to hide anything. I can't, and maybe that's why my financial investments only help our national security rather than hurt. Don't let big institutions threaten us again. Make our markets transparent. Require more reporting, and if any changes are to be made in this proposal, please only add more requirements to hold large institutions accountable for their actions.