Jul. 18, 2023
Dear Sir/Madam, Good morning. I am infuriated by the letter sent in opposition by several members of Congress. They hold a pivotal position in shaping our nation's policies. It is of utmost importance that you prioritize the well-being of household investors and ensure fair markets, rather than simply catering to the interests of the 0.1%. The recent response from some members of Congress against the proposed changes in reporting requirements is concerning. By opposing this vital reform, they are not aligned with the interests of household investors. Their stance raises questions about their commitment to safeguarding the integrity and stability of our financial system. I am the silent majority that has been pushed too far by their response. It is crucial to emphasize that failure to implement stricter reporting regulations, as demonstrated by the recent Archegos Capital debacle, can lead to systemic failure. We cannot afford to ignore the lessons learned from such catastrophic events. The proposed changes seek to address loopholes and vulnerabilities that enable high-risk practices and concealment of assets. By opposing these changes, some members of Congress are inadvertently allowing the continuation of practices that jeopardize the financial well-being of everyday investors. I support your position on security based swaps, and security loans, and stand firmly in support of transparent markets and the interests of household investors. The proposed reforms aim to level the playing field, reduce the potential for market manipulation, and ensure greater accountability for financial institutions. By advocating for stricter reporting requirements and actively working to implement these changes, you have the opportunity to restore confidence in our financial system. This is not only crucial for the well-being of individual investors but also for the overall stability and prosperity of our economy. We urge you to prioritize the best interests of household investors over the concerns of a select few. Embrace this opportunity to demonstrate your commitment to a fair and transparent financial system that protects the livelihoods and investments of everyday Americans. Together, let us work towards a future where systemic failures are prevented, market abuses are curtailed, and household investors can trust in the integrity of our financial markets. -- It's not the games we play that show our humanity, it's the way we play them.