February 21, 2020
The hypocrisy and audacity of the SEC to even consider such a piece of legislation is maddening. By enacting Release #34-87607, the Federal Government will, once again, impose and infringe upon the personal liberties of the people that pay for it, the American taxpayer, while it turns a blind to the financial transactions made by the 535 members of Congress. When will the SEC establish restrictions prevent, preclude, and prohibit them from buying securities based on insider information?
The fallacy of the Federal Government, including the SEC, is that it believes that is knows more about personal finance that its citizens. History proves otherwise. The most glaring example is Social Security. If the Federal Government really knew more about personal finance and really cared about the American citizen, the structure of the program would enable individuals to become financially independent unfortunately, Social Security only serves to make people dependent on the government. The real intent of Release #34-87607 is not to protect Americans, but eliminate an investing option that would enable them to become financially independent of the U. S. government. This should not be allowed.