February 6, 2022
SEC and related regulatory bodies have long acknowledged the widespread presence of fraud in our markets, often in the form of white papers or years-late enforcement actions that are typically nothing more than a small tax on the institutions criminal proceeds. The institution is incentivized to continue manipulating markets, and the regulatory body gets to pretend its actions were punitive. Approve the rule but also use it for a real push to end market manipulation rather than just letting the creation of the rule be your final product.
While swaps are an important part of the story, it is also important that these actions be followed swiftly by action on market maker shorting privileges and the abuses, conflicts of interest, and concentration of power that exist with so-called liquidity providers. Artificial liquidity creation destroys price discovery and creates synthetic shares. Continuous net settlement and the \"obligation warehouse\" are the largest and most successful organized crime scams that ever existed. But the jig is up. More people than ever are aware of these structutal cancers and how our own equity in the markets or our shares under custodial IRA ownership are used, first for lending profit by our fiduciary-obligated custodian and then by the borrowing institution to attack our investment and bilk billions from the working poor and middle class. With the same shares likely being used as locates for multiple market participants.
SEC can no longer be about providing the facade of defending retail interests while actually covering for and protecting entrenched existing power structures. Fix it all or get out of the damn way.