Aug. 14, 2023
Dear Sir/Madam I don't have a financial education, but even with my broken knowledge of the financial market, I know that it is corrupted - having lived through many market crashes with the continued failure to prosecute those responsible. If the SEC has been seeing what is going on - why have you been handing out slap-on-the-wrist fines instead of prosecuting financial thugs? Instead of regulating financial instruments such as derivatives(we know how poor your regulation is) ban derivatives, because high risk speculation detroys the market and history proves this. Short positions have a maturity date. To be able to roll this type of instrument over in a swap is an abuse. How this is even possible in a regulated market is laughable. Force short positions to close upon maturity. Bankcrupt entities allowed to trade ad infinitum, will cause greater destruction than even the SEC can imagine. No voting rights should be given to owners of derivatives. Owners of stock should hold all voting rights. This is so simple that I cannot believe that there are somehow loopholes and grey areas created by thugs to bring it into question. The stock market needs simple inalienable rules that can be understood by the common man and does not require a lawyer or an actuary to understand. Turn your casino back into a market and send the high-risk gamblers to either prison or Vegas. Regards Emil