Mar. 13, 2022
Hello, I am writing today with concerns about predatory short selling in the American Financial Market. While more transparency and reporting is a good start, it is crucial to recognize that market makers and middle-man institutions can create as many short positions as they want without consequences or concern of having to eventually buy them back. Naked shorting is crippling the economy and legitimate businesses, while wealth becomes more and more concentrated at the top. To give a recent example, the stock GME has been at 100% utilization for the past month. Every share has been bought and theoretically there should be no more available for borrowing, but it continues to be shorted at minimal interest costs. How can we expect retail traders to follow rules that institutions flaunt and laugh at? Why should anyone invest in a market that is so heavily weighted to benefit shorting? Why isn't the SEC able to source out the corruption in the system when it is so obvious and widespread? Please work to curtail out of control shorting and eliminate naked short selling practices or the American economy will crumple like a house of cards. If the SEC is too weak to police the market than please expose the corruption so the people can rise up. Our best chance is to stand in solidarity. The people want justice and fair markets! Anonymous