July 19, 2023
The suggested reforms to swaps reporting are excellent, and the complaints of certain congress members nakedly suggests they are corrupt.
When they write that these changes to requirements \"could impair
market liquidity\" what they suggest is that the health of American markets is dependent on a shroud of overtly fraudulent derivatives. The simple reality is that any liquidity dependent on a hot-potato style juggling of toxic derivative positions between conspiring financial firms is a mirage.
These rules enable the SEC to ensure the objectives of \"increasing transparency to give regulators the tools they need to surveil markets and ensure they are fair, efficient, and competitive.\" When American congress members suggest \"the proposals could compromise these objectives by releasing sensitive and potentially misleading information\" they lie. You can discount their opinions, and be grateful they all signed the same document, so less work needs be done in deleting their opinions.
For America to be a destination for investment, we need certainty that unreported derivative positions do not justify the counterfeiting of our securities or the manipulation of their markets.