February 19, 2022
Hello,
I am writing today as a private investor from the US. I was taught in school that the US economy was fair, built by capitalists to ensure transparency and open competition. My experience has ripped that delusion from me at no small expense.
Transparency is a lovely concept. I was raised to believe that sunlight is the best disinfectant, and our market is dripping with corruption hidden in dark pools and naked short selling. Under the guise of providing liquidity, market makers can access information I cannot,break rules that would send me to prison, and steal money from the economy as a whole.
We need to see what they are doing and hold them accountable.
With regards to failures to deliver (FTD), my knowledge is a bit rudimentary, but any investor would know that, in order to short a stock, you should possess the stock. It is a basic requirement investors like myself need to follow in order to operate. For any institution to be able to ignore not only this requirement but literally avoiding paying what is owed is blatantly unfair and against the basic idea of our economy being fair.
It cannot be allowed to continue.