Aug. 13, 2023
Hello SEC, This is George, a concerned citizen. I am also a veteran from the Airforce and currently in the CA Air National Guard. I would like to address a few things in concern of our national security. Reporting and disclosure of swap positions is of utmost importance as this is a Nationwide financial and security issue as well. There may be money laundering funding of terrorists around the world and Archegos, Bill Hwang blew up and Credit Suisse went bankrupt getting bought by UBS, due to this as well. Even now UBS is having issues related to Archegos. Please consider the fact that hedge funds may be using AI to argue against this proposal that would regulate them, plus the small fines of millions they pay for billions in violations is unacceptable. The bare minimum would be the amount of profit they made and ideally more than the revenue they generated. The funds should at least pay for the sec operations and compensating all those hurt by the related parties. I have yet to see our citizens made whole by the harm these financial terrorists have done to our citizens. Thank you. -- George Kong