Oct. 30, 2022
Average Joe here, I stand with the SECs decision on Swaps. First of all, no entity should have the right to evade listing its dirty dealings. And if it's not dirty, then why not put it before a council of concerned individuals like myself (your best company of eyes and collective knowledge) to see for myself? Right now, we see NOTHING. Having the ability to circumnavigate and hide swap data is no different from a person committing videotaped crime, then saying they won't allow the film to be used against them until they find a way to pay their way out of it. Swaps need to be reported ASAP (as in, the same business day it happens) so you, myself, and others can correctly decide the severity of the crime committed before it's too late. Another analogy is think of their current delaying of Swap data as you watching years-delayed CCTV footage. By the time we catch up to the first crime, they have already committed 200,000 more and will face a paltry $300,000 fine. If I could rob people for billions and get slapped with a $150,000 fine, that's not a deterrent... that's the cost of doing illegal business. Please, make the right decision and don't let a select few individuals destroy our country.