Oct. 30, 2022
October 30, 2022 The lending of securities from unsuspecting \"regular folks'\" pensions, retirement accounts, and investment portfolios, so that institutions which are able to pay to have an advantage in the trade are able to short sell, roll fail-to-delivers, and other nefarious financial machinations, ought to be criminal. The fact that it is not is a recognition of that lopsidedness of our financial system in favor of the ultra-rich who pay to ensure relevant laws and regulations do nothing to obstruct them from parasitically preying on the country and its citizenry, their futures, and those of people around the world duped into believing in the fairness and freeness of the United States's markets. While this rule is wholly insufficient to address the massive chasm of fraud and abuse that is our financial system, it at least is a step in the right direction in assisting retail investors to know exactly how, when, and by whom they are being ripped off. Sunlight is, after all, the best disinfectant. Securities which are lent need to remain accounted for, or they will disappear into the black hole that is the DTCC's FTD warehouse. This is already an endemic problem. Take this step to reduce it, however minimally. \"Dumb money\" isn't as dumb as it was, even a couple years ago. We will not stand for this lopsided extraction of value. Is it any wonder that millenials and Gen Z'ers are increasingly comfortable with socialism when capitalism has so utterly failed??? If you do not take this opportunity to try to rectify the problem yourself, do not be surprised when the masses rise up to demand their own form of justice.