April 22, 2022
This is the opposite of what the SEC was designed to do, PROTECT RETAIL This rule in basic sense doesnt hold accountable those that have created a market that could self implode at any time through naked short selling and short and distort campaigns. It allows unlimited can kicking, erases fails to deliver, and doesnt force short sellers into the market to cover exposed positions. There is already limited and aged information allowed to retail to benefit hedge funds and market makers allowing them to front run and hedge their bad positions before the public is aware of their nefarious bets. Now we introduce no accountability to those that make bad bets. The corruptness of this market is beyond imagination and now that millions of people are aware of it how long until the system is so broken its not worth investing and retail leaves. It is as if we didnt learn anything from 2008, because this scenario is a mere continuation after bailouts and no one being held accountable. In laments if this proposal passes it will confirm that our system is broken, retail doesnt stand a chance and the good ole boys club always win.