July 19, 2023
Hello,
I'd like to comment on the letter sent in opposition by several members of US Congress. As the US is the biggest economy strongest nation, US policies have a major effect on other countries policies and the members of congress have a pivotal role in shaping these policies. I believe the role of individual investors, such as myself, in the markets should be prioritized and protected. If we are to have fair and transparent markets for everyone, then institutional rights should not interfere with individual rights. I believe right now, the markets are unfair and are truly built to meet the interests of the 0.1% over the 99.9% of parties.
Quite alarming to me, members of congress have been speaking against proposed changes in reporting requirements. This is quite honestly in direct opposition to the interests of individual investors. Their opposition to this transparency and fairness is quite contrary to their jobs of safeguarding the stability and integrity of the worlds largest financial system.
It is absolutely crucial to emphasize that failure to implement stricter reporting regulations has and will continue to lead to systemic failure. We cannot afford to ignore the lessons learned from such catastrophic events.
The proposed changes seek to address loopholes and vulnerabilities that enable high-risk practices and concealment of assets. By opposing these changes, some members of Congress are inadvertently allowing the continuation of practices that jeopardize the financial well-being of everyday investors, worldwide.
I support your position on security based swaps, and security loans, and stand firmly in support of transparent markets and the interests of household investors. The proposed reforms aim to level the playing field, reduce the potential for market manipulation, and ensure greater accountability for financial institutions.
By advocating for stricter reporting requirements and actively working to implement these changes, you have the opportunity to restore confidence in the US financial system. This is not only crucial for the well-being of individual investors but also for the overall stability and prosperity of the US world economy.
I strongly urge you to prioritize the best interests of individual investors over the concerns of a select few powerful entities. Embrace this opportunity to demonstrate your commitment to a fair and transparent financial system that protects the livelihoods and investments of everyday Americans, ergo many Global citizens.
Together, let us work towards a future where systemic failures are prevented, market abuses are curtailed, and individual investors can trust in the integrity of the strongest financial markets.
Best regards,
Travis Hoff.