Oct. 30, 2022
October 30, 2022 What's going on in the dark pools- and market makers-led stock exchange today is undermining the bona fide core appeal for the retail investor and this is due not solely but chiefly to the unmitigated continuation of the practice known as unreported swaps. You can't take out a loan for a mortgage and use your career as a magic bean salesman as leverage to get a bigger loan. That would be unconscionable, no matter how wealthy the beanman appeared to be without full disclosure on the sustainability of his practices and business, nobody in their right mind would consider the beanman's source of income ethical, transparent or free of risk to grant him such a loan. Yet due to the current rules in the US stock market, market makers are able to perform these swaps contrary to the ethics of the same market retail investors participate in on the same premise as the magic bean hawker only on a scale akin to a financial cartel setting the prices for the most active stocks among little guy inve stors. We all recognize that bean stalk or not, magic beans aren't real, so why should we give individuals the same fairy tale conveniences as to not question the source of their magic beans, how much they've leveraged them against the market, and how much volume they're running on a day-to-day basis to see whether it correlates with the number of villagers being bilked by it? I don't mean to mix metaphors or get complicated for the sake of it, but that's really what it boils down to for me. This has exceeded class action territory. As far as I'm concerned, like many another individual retail investor, it's time the magic bean salesmen get real and cut the crap because the farm is already sold. It's time to spill the beans. In less colorful language I'd say we need public disclosure of swaps data, as swaps pose an existential threat to the fundamental function of the public stock market, as well as a well-enough defined law that covers all contingencies for loophole evasion, including but not limited to international swaps and swap disclosures, security-based swap positions based on the same underlying entity, a threshold within reasonable limits of $100MM/$200MM gross, following the precedent for \"large traders\" set by Rule 13H-1, daily reporting, and posthaste. With alacrity. AKA ASAGDMFP. Pardon my parleyvoo.