March 25, 2022
I have learned over the past year about how Wall Street has been playing a game with retail investors and stealing our money for years right out in the open. Once would assume that doing something like this so opening to so many hard working citizens would be squashed quickly but it appears that the SEC either does not currently have the power to do so or chooses not to. This is both frustrating and a major blow to the American dream of working hard, living on a budget in order to save them trying to make wise investments in order to get ahead. The fact that rampant short selling, along with the overriding of actual shareholders votes, and private equity takeovers, are still technically legal does not give me confidence that our free market system still exists. Without the transparency of where a broker's shares are actually going in a short sale, the room for potential corruption and fraud is very high. I feel that the SEC is essentially toothless in its current state. The deck is stacked against Joe 6-Pack and unless major changes are made, the current offenders will not stop until crime no longer pays. This will be my last foray into investing in the stock market until changes are made as I have no interest in paying for dishonest Wall Street criminals next large house in the Hamptons.