Jan. 06, 2022
The idea that lending out retail investor’s shares to use against them is actually good for anyone besides short sellers and market makers or that it’s “necessary” to our markets is a fabricated lie. We do not need extra liquidity in a free and fair market especially when it only comes as artificial selling pressure on the shares of American companies at the expense of their investors. Any honest liquidity concerns could be resolved almost immediately by lifting the day-trading restrictions. Regular investors are unnecessarily burdened with holding a bad position overnight while those using computers to make countless trades a minute get to use those restrictions against us as if they didn’t already have the upper hand. Additional reporting requirements for the various ways of manipulating a stock is laughable. The fact that loaned shares can actually be used to close FTD’s says enough. Everyone knows the SEC is intentionally avoiding any real solutions to these problems and that violations of this proposed law like all of the existing ones will be met with a fine representing a small fraction of the profits gained by violating the law. The SEC is complicit in theft on the largest scale and will be complicit in the next market crash caused by the same perverse marriage between billionaires and our government that caused the last one. We aren’t going anywhere and we will keep fighting until these practices are punished as the criminal offenses they are. Signed, An Angry Retail Investor