February 7, 2022
I have been investing in US equities market for 20 years. I always knew the chips were stacked against retail, but had absolutely no idea to what extent until this past year. I have found the information uncovered by the public during the Gamestop saga to be enlightening, disturbing and frankly, disgusting. Years ago, I physically worked on Wall St myself for a decade (albeit in banking lending), and have very close friends still working there in the equities market, mostly in mid and high level positions. Even they were surprised to see just how very far down the rabbit hole this goes. Until actual prison sentences are punishment instead of fines, these hedge funds and prime brokerages will continue to commit fraud, manipulate markets and deceive the public, with fines simply being a cost of doing business. I watched as last January, they literally turned the buy button off to change the rules when they were about the lose at their own game. And yet, nothing happened except for a nonsense dog and pony show with Congress. That should say it all right there. The US and the world are counting on you to put an end to this broken, corrupt system and put any future thieves in prison instead of enabling them with slap-on-the-wrist fines. Thank you.