Oct. 08, 2022
October 8, 2022 Per the SEC's own filings, we can see a history of token punishments that don't even require the admission of guilt for firms engaging in naked shorting American companies with LITERALLY trillions -WITH A T- of fraudulent, imaginary, pulled out of thin air fake shares. The SEC is aware of the abusive practices of insane leverage, emptying pension funds to pay off bad bets, near infinite rehypothecation, the DTCC's inability to track shares, entities like CBOE manipulating VIX for years, high frequency trading done by computers that's banned in the rest of the world, payment for order flow, bankrupting American companies on behalf of special VERY monied interests, illegally marking short sales long, burying short positions in swaps, illegally selling items they don't own and Failing To Deliver. The list of crimes the SEC is aware and takes no meaningful action to stop is a list that is decades long. The SEC spent a decade ignoring complaints against Bernie Madoff and it wasn't until he turned himself in for fear of his life that the SEC took action. What is the source of this inaction? Staff lying to IA/IG investigators. Corruption of appointed officials, and being too busy watching porn to actually protect American businesses and working families being wiped out and abused. Main Street is being wiped out by Wall Street and the SEC LITERALLY was caught with their [REDACTED] in their hand. We've watched the RRP climb from under $400 million to over 2 trillion as the banks that own the Fed are first in line for nightly payouts and then hear the Fed blame inflation on workers being paid too much in a timespan where M2 tripled form $7t to 21T and the minimum wage stayed $7.25 (2008-2022). Our grand parents had a higher standard of living on a single income than today's youth working 2 or more jobs without benefits where nowhere in the country can afford a two bedroom on minimum wage while corporations post record profits. THE GRIFT MUST END. Either the people will die broken or die fighting, but either way they die because of the SEC's REFUSAL to actually take a meaningful stance against the abusive practices of the banks and Wall Street. If retail makes a bad investment and gets margin called, they can be wiped out in days. Their investments are tracked every second of the day and we can't turn off the buy button or ignore margin calls when things don't go our way. That institutions can are left to the honor system in reporting short positions every 15 days and swap info hasn't been posted for 2 years is insane and literally crime against every participant in the market. Pensions shouldn't be the backstops of Wall Street's bad bets. Their short positions should be constantly tracked by objective parties and not self reported. \"Creating liquidity\" means selling shares that don't exist to sell under the lowest REAL Ask. This is the opposite of a free market as market makers are just undercutting the price of real shares to control and dictate price. Internalizing orders isn't a free market. Brokers offering IOUs instead of real shares isn't a free market. The DTCC holding all of the shares in one infinitely rehypothecated bucket that shafts retail \"street name\" holders of their rights is not a free market. The barriers the DTCC puts preventing corporations from pulling out their shares because they're tired of the corruption and mismanagement is not a free market. The only thing free about this market is the reign criminal enterprise has over it with the SEC's blessing as long as they get their pennies on the dollar. If tracking and reporting swaps, short holdings, and other derivatives is too much of a burden for SROs (and I use regulating loosely), the DTC/C, the OCC, hedge funds, or brokers is too laborious than they obviously CANNOT and SHOULD NOT be trusted with trillions upon trillions of dollars. IF THEIR REASON TO AVOID ACCOUNTABILITY AND TRANSPARENCY IS THAT IT IS HARD THEY ARE OBVIOUSLY NOT QUALIFIED TO BE MANAGING FUNDS ESSENTIAL TO THE STABILITY AND IMAGE OF THE UNITED STATES If I end up commenting twice, it's simply because the SEC reported the deleted thousands of comments on dozens of proposed regulations, so this one size fits all message is intended to make it painfully obvious that I and the thousands upon thousands of people I have conversed and lamented with find the lack of meaningful enforcement of laws against prolific repeat offenders absolutely enraging and embarrassing. STOP IGNORING YOUR DUTY AND PUNISH THE FIRMS TAKING BILLIONS FROM STRUGGLING FAMILIES EVERY YEAR.