February 7, 2022
Self regulatory organizations (SRO's) are an easy way for fraud to propagate through the markets. How it became allowed for orgs that handle so much capital be allowed to self report on financial reports is ridiculous. There needs to be non-biased orgs that regulate these financial institutions.
Also the revolving door from government orgs to private companies just adds to the possibility of corruption.
And fines, that are less than the wealth acquired due to fraudulent activities, do absolutely nothing to disincentivize the fraudulent activities from taking place.
I've been in the markets for barely a year and what I've seen and learned during that times is, frankly, appalling. I want to believe that our government bodies care about the citizens and NOT the corporations but the systems currently in place do not lead me to those conclusions.
The markets are how I'm supposed to create a lasting wealth that benefits myself, my family, my future, and my community however with the blatant financial crimes that take place EVERY DAY, this is impossible. Every second of inaction brings EVERYONE closer to failure.
The wants of the few do NOT outweigh the needs of the many.
If it were possible for me to never be a part of the markets and still create a comfortable life for myself I would leave and never look back. Our markets are a disgrace.
I implore you, whoever is reading this, please, for everyone's sake, do your best to reverse the corruption that is in place, before it is too late.