January 7, 2022
I hope the SEC truly embraces the will of the people and moves forward and swiftly, not merely enacting this proposal but actually ENFORCING it.
The massive, insidious, and unrestrained greed and fraud that has been allowed to pervert every facet of our financial system is not sustainable.
The public is aware and watching. It is only a matter of time before the masses realize our free market is nothing more than a grotesque faade.
Yet AGAIN, it will be our homes, livelihoods, and meager retirement savings offered up to pay the piper when it all comes crashing down.
It is time to act in the interest of the millions of Americans that rely on regulatory powers of the SEC to reign in the insatiable greed of market manipulators, expose their unhinged predatory practices, and hold them accountable for the unmitigated malice they callously and willfully inflict upon American citizens to enrich themselves and their enablers.
The practice of naked shorting, dark pools, and non-consensual share lending must end and it is within the purview of the SEC to protect retail investors and ensure EVERYONE has access a level playing field in our markets.
- Require that shareholders consent to their shares are being lent by brokerages and are compensated for it. malice
- Require all shares have a unique identifier to ensure ownership when purchased by retail and track when and to whom it is being lent to by brokerages.
- Require a due date on returning lent shares to eliminate the illegal and highly lucrative practice of naked shorting.
- Enforce severe financial penalties in excess of profits made between lenders and borrowers for failing to deliver when due.
There is simply no excuse not to move forward with S7-18-21 Reporting of Securities Loans and enforcing it on behalf of ALL participants in our financial markets. Thank you for allowing me to comment.