July 19, 2023
Dear Chairman Gensler,
I wholeheartedly support more reporting when it comes to swaps. These swaps pose a threat to participants in the US equity market, so it's completely acceptable and within the SEC's purview to require reporting. It is unacceptable that these swaps pass on the risk to the common investor by virtue of them literally participating in the stock market. It socializes the loss, and privatizes the gain. Unacceptable for the swaps to operate in the shadows.
As mentioned in other comments, those blokes at the CFTC are criminals who are bought and paid for by wallstreet. If the CFTC won't do their swap reporting obligations, the SEC should.
Thank you Chairman Gensler. Don't let the bots on the internet sway you. It is incredibly refreshing to see change for the good take place.
- Jack Pieper