Oct. 08, 2022
October 8, 2022
Dear Gary Gensler and SEC staff,
Thank you for the opportunity to comment on this rule proposal.
As I have been following the the SEC, DTC, NSCC, FINRA, OCC, etc., I have noticed one glaringly obvious signal: You are all either egregiously incompetent or unfortunately unsuited for your jobs overseeing the stability of our markets.
With that being said, I am in full support of this rule proposal for the following reasons:
1. It would finally bring some transparency to these institutions that would otherwise withhold securities lending data for retail.
2. It would force a change in strategy from these entities that are forced to report data. This is a good thing. Right now you have firms like Citadel complaining that it will raise the costs of short sales, or it would promote copycatting, etc. These are straw-man arguments and reminds me of a toddler crying about how unfair things are. Meanwhile, retail has been getting fleeced and stolen from for decades, and without knowing by how much or how often. A truly sad reality.
3. It would help prevent a chain of predatory lending that happens in connection with short-selling, which often times the securities are lent out to other institutions that are placing trades directly against retails'.
All in all, this rule proposal would finally put retail, US citizens, families ahead of predatory institutions, such as hedge funds. This is the way it should be, and for the SEC to implement this rule would be in line with THE SEC'S JOB, WHICH IS TO PROTECT REATIL FROM THE CORRUPT PRACTICES OF THESE FINANCIAL TERRORISTS. Let's be real, they deserve to be jailed and cut off from being a part in our markets. As we will see very soon, they will be the cause of the next financial implosion, and the SEC is complicit if they do not step up and do their job.
Thanks