You think you’re arguing from a position of strength. You think asking for the public to comment you’re assuaging the masses. You think we think you’ll actually do something honorable and equitable in response to this open comment forum. We know better. It’s all coming out now. Again. We know you’ve rigged the game and corrupted the market. We know you only pay lip service when moralizing an open and free market. When you say unfettered capitalism is what will bring prosperity to the world. When you say trust the markets with your money while simultaneously hollowing out a government “of the people, by the people, for the people” of it’s oversight abilities. Then claiming those responsibilities for yourselves. Then leaving those responsibilities unfulfilled. The proposed rule changes do not go far enough to ensure your pledges of service and fail to use your level of assumed authority. If every other nation in the world has actual enforceable laws a strict penalties including jail time to prevent naked short selling and the largest economy on the planet does not? You know the extent of the problem. You know we’re heading into the abyss again and you also know why. It is a failure at every level of governance and authority in our financial system. It’s a legal collapse we’re going to go through. It’s actually been so well executed from a scheme-y point of view. Now you just have to figure out whose going to be left holding the bag. My money is on the people you’ve dubbed the “retail investor.” Luckily I’m not one of them. I’m an individual investor. I don’t have much money, comparatively speaking, and even less time to spend staring at screens and watching tickers. So I go with the tried and true mutual funds and etf strategies, with a upwardly increased exposure to bonds as I get older. This what I’ve been brought up learning. Diversification is key. You don’t put all your eggs in one basket. Some sectors lag, while others thrive and vice versa but on the whole and averaged in you get slow and steady growth. Most of the time. Of course this was a problem in 2008, when those pesky CDO’s were bundled together (diversification - good) but with really bad debt (no documentation loans - bad) sprinkled amongst what was supposed to be the best and safest performers. Whoops. I lost 40% of my portfolio after 2008. Kept my job, kept my house, I was one of the lucky ones. I had a good financial advisor back then. He died. I was on my own and had to learn to manage my investments for real. It was daunting but over time I believe I’m measurably successful. As an individual investor now I use a combination of my own research in the form of podcasts, books and financial news and conversations with my friends and co-workers and other participants in some online pubic websites and forums. I do not have at my side, 10’s of thousands of economic, finance and legal professionals. I do not have HFT algorithms and servers with direct fiber optic connections to the exchanges measured in feet. I live in the country. I have DSL. I also have curiosity and the ability to learn. Especially when it comes to my home finances, budget, and investments. I’ve seen too many people I care about run out of money too soon and it’s made me realize I have to do better for me and my family. I’m an individual investor but I’ve been able to find some really valuable resources and information to help me out. Turns out, the system is complicated. It’s taken years for me an individual investor to learn and feel confident in my learning to trust my due diligence when it comes to individual stocks. I was 80% invested in big funds S&P, Total Stock Market, Small Caps, and some bonds at the beginning of 2021. I am a buy and hold investor but I keep some cash in a Money Market account for opportunities. IPO’s I believe in, news driven stuff, lawsuits and dips in value companies. They say it’s hard to argue with success and by that metric alone I’ve had a good run the last several years. As have most that are invested in the markets. Since January of 2021, my entire portfolio, except 20% cash (for opportunities) is in 5 heavily shorted stocks. I’m a buy and hodl individual investor. It’s hard to see where this ends this time. Things are very different for the United States economically then they were in 2008. I sincerely appreciate the opportunity you’ve given me, an individual investor, to offer some constructive idea regarding the new proposed rules and encouraging a stronger response. That is, if you have the authority? I urge you to push your limits to the very point of breaking by working overtime on a system that fair and transparent. A system that levels the playing field and allows the best ideas to rise to the surface unencumbered by thievery, graft, chicanery or corruption. Put in place obvious reforms regarding naked shorts and FTD’s. Stop the revolving door of employees jumping between regulator and regulated operatives (see “if it looks like a duck…”) for a period of years or better yet, pick a side Gary. For those reading, that’s a reference to the current head of the SEC Gary Gensler who has also worked at many of the various Financial institutions both inside government and the public sector. Lastly and perhaps most importantly. Make the penalty fit the crime. As mentioned above, stealing 100 million and only having to pay a 25 million dollar fine is a business model. The part that’s not discussed is the impact of that crime. 100 million dollars was taken from some who had a real need. Down the line, that 100 million dollars would have impacted many individual lives. Most folks who got ahold of their share would have passed it on by buying stuff, making their lives a little better and the lives of those around them a little better too. Hopefully that’s most folks. There are so many others though. So many that their portion of the original 100 million would have been life changing. In the largest economy the world has ever known there’s still children going to sleep hungry. Because of your inaction. Any hoo, sorry to be so long winded. TLDR: do the thing you say you’re there to do.
Vrian Bincent Comment On Regulatory Notice 21-19
You think you’re arguing from a position of strength. You think asking for the public to comment you’re assuaging the masses. You think we think you’ll actually do something honorable and equitable in response to this open comment forum. We know better. It’s all coming out now. Again. We know you’ve rigged the game and corrupted the market. We know you only pay lip service when moralizing an open and free market. When you say unfettered capitalism is what will bring prosperity to the world. When you say trust the markets with your money while simultaneously hollowing out a government “of the people, by the people, for the people” of it’s oversight abilities. Then claiming those responsibilities for yourselves. Then leaving those responsibilities unfulfilled. The proposed rule changes do not go far enough to ensure your pledges of service and fail to use your level of assumed authority. If every other nation in the world has actual enforceable laws a strict penalties including jail time to prevent naked short selling and the largest economy on the planet does not? You know the extent of the problem. You know we’re heading into the abyss again and you also know why. It is a failure at every level of governance and authority in our financial system. It’s a legal collapse we’re going to go through. It’s actually been so well executed from a scheme-y point of view. Now you just have to figure out whose going to be left holding the bag. My money is on the people you’ve dubbed the “retail investor.” Luckily I’m not one of them. I’m an individual investor. I don’t have much money, comparatively speaking, and even less time to spend staring at screens and watching tickers. So I go with the tried and true mutual funds and etf strategies, with a upwardly increased exposure to bonds as I get older. This what I’ve been brought up learning. Diversification is key. You don’t put all your eggs in one basket. Some sectors lag, while others thrive and vice versa but on the whole and averaged in you get slow and steady growth. Most of the time. Of course this was a problem in 2008, when those pesky CDO’s were bundled together (diversification - good) but with really bad debt (no documentation loans - bad) sprinkled amongst what was supposed to be the best and safest performers. Whoops. I lost 40% of my portfolio after 2008. Kept my job, kept my house, I was one of the lucky ones. I had a good financial advisor back then. He died. I was on my own and had to learn to manage my investments for real. It was daunting but over time I believe I’m measurably successful. As an individual investor now I use a combination of my own research in the form of podcasts, books and financial news and conversations with my friends and co-workers and other participants in some online pubic websites and forums. I do not have at my side, 10’s of thousands of economic, finance and legal professionals. I do not have HFT algorithms and servers with direct fiber optic connections to the exchanges measured in feet. I live in the country. I have DSL. I also have curiosity and the ability to learn. Especially when it comes to my home finances, budget, and investments. I’ve seen too many people I care about run out of money too soon and it’s made me realize I have to do better for me and my family. I’m an individual investor but I’ve been able to find some really valuable resources and information to help me out. Turns out, the system is complicated. It’s taken years for me an individual investor to learn and feel confident in my learning to trust my due diligence when it comes to individual stocks. I was 80% invested in big funds S&P, Total Stock Market, Small Caps, and some bonds at the beginning of 2021. I am a buy and hold investor but I keep some cash in a Money Market account for opportunities. IPO’s I believe in, news driven stuff, lawsuits and dips in value companies. They say it’s hard to argue with success and by that metric alone I’ve had a good run the last several years. As have most that are invested in the markets. Since January of 2021, my entire portfolio, except 20% cash (for opportunities) is in 5 heavily shorted stocks. I’m a buy and hodl individual investor. It’s hard to see where this ends this time. Things are very different for the United States economically then they were in 2008. I sincerely appreciate the opportunity you’ve given me, an individual investor, to offer some constructive idea regarding the new proposed rules and encouraging a stronger response. That is, if you have the authority? I urge you to push your limits to the very point of breaking by working overtime on a system that fair and transparent. A system that levels the playing field and allows the best ideas to rise to the surface unencumbered by thievery, graft, chicanery or corruption. Put in place obvious reforms regarding naked shorts and FTD’s. Stop the revolving door of employees jumping between regulator and regulated operatives (see “if it looks like a duck…”) for a period of years or better yet, pick a side Gary. For those reading, that’s a reference to the current head of the SEC Gary Gensler who has also worked at many of the various Financial institutions both inside government and the public sector. Lastly and perhaps most importantly. Make the penalty fit the crime. As mentioned above, stealing 100 million and only having to pay a 25 million dollar fine is a business model. The part that’s not discussed is the impact of that crime. 100 million dollars was taken from some who had a real need. Down the line, that 100 million dollars would have impacted many individual lives. Most folks who got ahold of their share would have passed it on by buying stuff, making their lives a little better and the lives of those around them a little better too. Hopefully that’s most folks. There are so many others though. So many that their portion of the original 100 million would have been life changing. In the largest economy the world has ever known there’s still children going to sleep hungry. Because of your inaction. Any hoo, sorry to be so long winded. TLDR: do the thing you say you’re there to do.