Apr. 20, 2022
Hello, I find myself appalled at the continuous and routine failure of the SEC to safeguard retail investors. I have recently come to the slow but inescapable conclusion that the US stock market is willfully unbalanced against the ordinary American. This 'rule' is little more than a play to protect morally bankrupt, bad faith players from the consequences of their own reckless decisions. There is no benefit in just allowing a naked short seller (who is doing something illegal already by the way) to keep borrowing shares that MIGHT NOT EVEN BE AVAILABLE TO BORROW? And not at the current price, even. At a price they decide they want to pay. This is simple price suppression. Corrupt price suppression. I would be shocked if the SEC is found to be party to such a corrupt practice. But seeing that this was proposed by the SEC, I'm making sure my voice is loudly firmly registered in absolute protest against this shameful suggestion. Unreliable SEC commissioners like Hester Pierce (who recently voted ‘No’ to adopt greater market transparency) warrant particularly closer watching, as I have entirely zero confidence in their ability to do their jobs in an unbiased manner. Please note: I do not intend to just let a rule that essentially legalizes criminality get passed silently. I will be watching, and will be taking steps to guarantee that I'm not the only one watching any new proposed rule. I'm starting to believe that the SEC is not on the side of the American people, and such entitles need close watching. Thanks.