Oct. 26, 2022
I am a lowly retail long investor who is being abused by the deception, outright lies, and fraud perpetuated by bad actors on Wall Street and applauded by the Securities and Exchange Commission in exchange for absurdly low "cost-of-doing-business" fees misnamed as fines that never return to those harmed. The following is my take on some of the requirements detailed by this proposed rule: I explicitly support transaction-by-transaction reporting. Quite obviously (as in every supply and demand market in the world except for 'Murica's Incredibly Fraudulent Capital Markets), requiring reporting of every single transaction individually eliminates loose, aggregate accounting which is used to hide unethical, fraudulent, and illegal transactions within the overall transaction flow. Secret short selling is ripe for fraudulent and unethical transactions in order to destroy companies that are important to the country and its citizens, instead only benefitting the hyper wealthy (your obvious overlords) and conversely doing great harm to society as a whole. I explicitly support a 15-minute reporting requirement. Complaining about cost and effort of implementation while stealing billions of dollars from future generations by "kicking the can" with derivatives currently and illogically accounting for more money than has ever existed on planet Earth is idiotic, self-serving, disingenuous, and traiterous. If you are serious about "working families" (I almost laugh when I write this due to the past decades of the SEC's disgusting lack of enforcement and complicity in counterfeiting and fraud), implementation and enforcement of this requirement is obvious. Companies and assets that exist for the betterment of society are perpetually harmed and robbed by predatory short sellers who control the flow of information and the (lack of) enforcement (of already weakened rules). Currently, the SEC makes it easy for the Wall Street thieves and traitors, and difficult (read: nigh impossible) for the multitude of hard-working people behind the aforementioned companies and assets. A short seller is not an investor. As a matter of fact, a short seller is the opposite of an investor. Although the SEC's mandate is to protect investors, the SEC as it is today is complicit in helping the short sellers (anti-investors) defraud the very investors that the SEC is mandated to protect. The markets as they stand today are laughably fragile, despite all of the huff and puff and lies of the commissioners. That one stock held long by many investors is becoming a catalyst to the destruction of international confidence in this market proves how greedy and short-sighted those in charge of regulation have become. This is your (23rd?) wake-up call. From proposed rule 13f-2, in the SEC's own (lying through your teeth) words: “[the Commission is] mindful of concerns that certain short selling activity can be carried out pursuant to potentially abusive or manipulative schemes. For instance, market manipulators may seek to spread false information about an issuer whose stock they sold short in order to profit from a resulting decline in the stock’s price. The Commission has previously noted various other forms of manipulation that can be advanced by short sellers to illegally manipulate stock prices, such as ‘bear raids.’”