February 7, 2022
Hi,
I am a full time software engineer from Canada and I am losing trust in the so called free markets we are always told about. Gary Gensler admitted that up to 95% of retail orders do not go to lit exchanges and instead end up in dark pools. This in turn hurts me and millions of retail investors because buying a stock does not affect the price of the underlying security which is the exact opposite of a free market. I am watching as my savings and retirement fund are drained by illegal short sellers selling in the lit market but buying in dark pools. It feels like we are buying into a scam from the start and I for one will be taking most of my money out of American stocks as soon as I hit my break even point. I personally dont like being robbed by hedge funds.
I would like to see harsher punishments for criminal hedge funds including but not limited to time in prison. A mere $2 fine for profiting $400 million is not a punishment rather a pay to play charge.
Please for the sake of all retail investors and the global market as a whole, take some responsibility and regulate the hedge funds.