Apr. 20, 2022
It is my understanding that the SEC is proposing a new rule which further benefits short selling hedge funds at the expense of retail investors. As I understand it, the new rule provides a pass to reset FTD’s utilizing SFT loans. This essentially allows brokers to lend SFTs at whatever price they want (always going to be at the benefit of their hedge fund buddies), rather than the hedge fund paying market price. I urge the SEC to not pass this rule, you will lose all respect from retail investors and risk losing an entire generation of investors from participating in the market. Why would someone participate in an actively corrupt system in which the governing body allows corruption to take place freely, when you could just invest in property or a high yield savings account, or anything other than the stock market. The SEC has proven to retail investors over and over that you are not willing to fight for us and a fair market. Instead, you continuously assist market manipulators even when they make a bad bet. How can you live with yourselves allowing corrupt hedge funds to abuse dark pool trading at the expense of American companies. Not only illegal, but extremely immoral. And now you want to provide them a get out of jail free card if a short squeeze does happen?? GME’s proposed dividend by stock split must have made the hedge funds tremble at the knees for you guys to come up with this one. The SEC exemplifies everything wrong with America; why the youth can’t afford homes, why almost 40% (and increasing) of Americans do not have the savings to support themselves in retirements, why almost 70% of Americans are living paycheck to paycheck. The SEC’s immoral practice of turning a blind eye to market corruption costs Americans billions if not trillions yearly. If you guys actually did your job properly everyday citizens that make the right stock choices would increase their wealth and the economy tenfold and good companies would still be in business instead of being shorted to oblivion. Sincerely, Someone who doesn’t even own any Gamestop stock but genuinely wants a better future for Americans.