Oct. 30, 2022
October 30, 2022 I am in favour of proposal s7-18-21 reporting of securities loans. Financial industry leaders will have the SEC and general public believe that the added expense of reporting this data outweighs the benefits of doing so. This is a farce. Knowing who is participating in high risk swap behaviour is crucial in holding parties accountable when the massively high risk swaps implode and take sections of the market down with them. Archegos capital is a perfect example of this, and Credit Suisse is still dealing with the ramifications of taking on their position to this day. It is also worth mentioning that the majority of retail investors are not even aware that the shares they hold in their broker could be lent without their consent, to parties shorting their long positions. This actively contributes to the material losses of retail investors that has nothing to do with the fundamentals of the company they are invested in. Every day the pundits on CNBC actively criticize the gall of retail investors for not being in touch with the \"fundamentals\" of the companies they invest in. Yet they never mention how shorting negatively contributes in driving the prices of stocks down. It is time to hold the bad actors of the finance industry accountable.