Feb. 24, 2023
February 24, 2023
It is widely known at this point that Wall Street \"Market Makers\" use wholesalers to execute trades, scraping pennies of every dollar via PFOF, enriching themselves while not getting their clients the best price execution. Often times, these trades aren't even executed on lit exchanges. Gary Gensler himself said the majority of retail trades DO NOT go to lit exchanges. This needs to change. That is not real price discovery. Real price discovery comes from supply and demand, not from market makers determining the most profitable way to execute trades. The fact that this even needs addressed just goes to show how little the American public controls their own economy. Retail investors deserve better. The world deserves better. It's time to address PFOF. It's time to address dark pools. It's time to address naked shorting. And it's time for REAL punishment. The fines for committing financial crimes of this magnitude should be worth MORE than the crimes generated, not less. It's time f
or the perpetrators to face the consequences behind bars, just like the rest of us would have to do. The existential threat they've created out of sheer greed within our economy WILL do serious damage to good, hard-working people. And for what? Just so a few dozen fatcats on Wall Street can continue living like kings? SEC, please do your job this time. Drop the hammer. Show future generations that crime DOESN'T PAY. Failing to do so will only ensure that these crimes happen again and again.