December 15, 2021
In today's digital landscape, there should be absolutely no reason why positions are not automatically reported.
If companies have the resources to perform High Frequency Trading, and install algorithms to do so, they certainly have the resources and the ability to create a system that transparently reports Security-Based swaps for all institutions and major holders.
This should be an automatic document that is generated each day and published for public view. There is no reason, other than to obfuscate, why a financial institution should not be required to publicly disclose any and all security-based swap positions.
This is what led to the 2008 Housing Crisis (Market Crash). It is unacceptable that this has been allowed to continue to percolate through our economy, unchecked, for the last 10+ years.
I am a 27-year old engineer, and this will be the third \"once-in-a-lifetime\" market crash if this behavior is allowed to continue. I believe that the buying and selling of credit-swap, security-swap, and other \"off-the-book\" reporting practices are significantly hindering my ability to accumulate financial gains and obtain resources through financial markets.