February 19, 2022
The fraudulent use of \"Security-Based Swaps\" is rampant in the US stock market. I am personally invested in $GME and I believe that security-based swaps, along with other practices like internalization with off lit-markets, are being used to prevent proper price discovery. I support the changing of the definition of buy and sell so that an entity can not cover positions it should be closing. If someone has opened a short position and lost their bet anything outside of a full closing of the position should be clearly criminal. Furthermore, the people that oversee these criminal actions should all have severe penalties beyond what is current. If someone steals $20 from a store then upon being caught and prosecuted they will have heavy consequence, but if someone uses security-based swaps to manipulate stocks and make millions of dollars they not only get to keep most of their money they get to keep doing it. Both the company that engaged in the behavior and the employees should all suffer sever penalties many times worse than stealing $20 from a store. The penalties should stop the behavior at the company and prevent employees from going to or starting other companies and doing the same.