Jun. 07, 2021
To whom it may concern, Regarding the $65 million fine for Robinhood, with all due respect, this is nothing compared to the $150 billion they made from payment for order flow between 2016 and 2019. How is this a fair fine? If I robbed a bank for $1MM and didn't go to jail, and only paid $433 in fines (same ratio as the fine above), why wouldn't I keep robbing banks? They should have to give that money back, pay a HEFTY fine, and go to jail so that they don't keep doing so. We all know about this "cost of doing business," you're just taking your cut and allowing these crimes to continue. Robinhood collects retail investor data so that Citadel can make investment plays according to the overall market movement, how is this a fair market? This is injustice and the fine is insulting. Take away their brokerage rights, take away Citadel's marker maker status, ENFORCE HARD LOCATES on shares, do your job and pass regulation to prevent this from happening in the future, do something that makes a difference! This is a crime against our country, but enforcing a heftyl punishment this time with payment for order flow is a step in the right direction. We also need you to crack down on their naked short selling. Think of all the companies that went bankrupt because of naked shorts. All the technology and medicine we could have had, but didn't because they were stolen from us, by the very same people you are protecting. Please hear your people, and help us change our country for the better. Please regulate the market in a way that is fair to everyone because you are in a position of power and that is the right thing to do. We need your help. Thank you for your time. Sincerely, A fellow concerned citizen