February 6, 2022
This ruling is again another tiny step in the right direction. Obviously this needs to be passed to prevent white-collar criminals from continuing to commit crime. It is sad and disheartening to read and see fund managers, institutions, and even SENATORS (albeit they are more tactful in their opposition), speaking out against this common sense rule. Those who are against this ruling make it pretty obvious to see who benefits from the crimes outlined in this ruling. Imagine allowing the criminals to have a voice in determining whether a crime should continue to be allowed. We are seeing the bank robbers comment on why the US markets should continue to allow bank robbers to operate.
As the governing body who has been charged with protecting the overall market it is time to FINALLY take some responsibility and enforce rules that protect ALL market participants. For decades, the rules have almost entirely favored the wealthy. Several bad actors have learned how to game the system, which has generated a hive of financial terrorists guised as fund managers, ceos, principals, political patsies, and the like. These individuals are toxic to the United States economy and WILL NOT STOP COMMITTING CRIME until they are severely punished.
The punishment for breaking rules such as those proposed in this ruling need to be extremely severe to ensure that the criminals get the message. Fines should include at least 120% of gross ill gotten gains at a MINIMUM, with NO cap. Those in charge of the nefarious deeds need to be held accountable to the highest degree. Personal assets from these criminals should be seized/re-claimed. CEOs, CCOs, and other relevant high level titles' criminal sentences should, at minimum, include life prison sentences without parole. Keep in mind that these financial terrorists are jeopardizing the entire United States economy to add to their unnecessarily high net worth. Who on earth wants to trust the US market with their hard-earned dollars when a handful of criminal billionaire fund managers are able to do anything they want with impunity.
In short:
1. This rule must pass AND be actively enforced yesterday
2. Infractions against this rule (and others) must be EXTREMELY SEVERE
3. Please step up and protect my economy from white-collar criminals.