Oct. 08, 2022
October 8, 2022
As a chief operating officer for a local construction company in Maryland, I see the value in reporting everything above board on a daily basis. If I fudge numbers for certain jobs, it could lead to our company getting audited or worse why shouldnt those same standards be applied to financial institutions?
Yes I completely agree with this new rule proposal and I pray it goes through. For too long, either hedge funds or banks have been able to locate securities (sometimes without even the decency of finding a borrow, naked short selling has to go too), almost to no end. It rarely gets reported and it leaves people to guess which moves were made based off of their quarterly reports. Which are also complete BS, how about making them show some derivative exposure through the CFTCs fraudulent swap program.
The fact that organization can put off reporting THE ONLY THING THEY ARE IN CHARGE OF, FOR TWO YEARS There is something wrong there, they need oversight from the SEC badly. From the little research Ive been able to do, that swaps market is the biggest ticking financial bomb known to man.
Ive went off base but I hope all of these independent issues are at the forefront of your attention and that you pass this proposed rule. Uncovering the dirty tricks in the plumbing of our market, makes it fairer for the whole world. Keep fighting the good fight