July 19, 2023
Dear Ms. Countryman,
as you know, our theta is cheap. We are the poors.
What comes next, now that Chair Gensler has kindly provided clarity on DRS?
Short hedge funds got caught in the worst bet ever.
Keep hiding the swaps for 3, 4, 6, or 8 more years. That's fine.
Keep committing crime by the microsecond. We don't care.
Keep taxpayers bail out banks. Elections have consequences.
You will reap what you have sown. Prepare to get rekt.
It gets more and more obvious that Wall Street does not know what to do.
Sincerely,
Art van de Lay