April 20, 2022
I find myself appalled at the continuous routine failure of the SEC to safeguard retail investors.
For a couple of years now, I have been coming to the slow but inescapable conclusion that the US stock market is willfully unbalanced against the ordinary American, or global citizen willing to trust in it. This 'rule' which is little more than a play to protect morally bankrupt, bad faith players from their own reckless decisions, just reinforces that opinion.
What benefit is there 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, just to protect their selfish selves? And not at the current price, even. At a price they decide. This is simple, plain, corrupt price suppression. Nothing more.
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.
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.