The ability for the general public to invest in various types of financial instruments and vehicles should not be restricted, and doing so would be anti-American in spirit. Let us consider and example of why this the case: the internet has helped promote the democratization of information and provided an incredibly valuable resource for individuals to learn, communicate, share ideas, create art, and so much more. To suddenly restrict the ability of the general public would take all of this away, and go a long ways towards creating an aristocracy, where only well positioned individuals can access key resources, in turn creating self reinforcing cycles. Not only is this wrong on moral grounds, but this goes against the idea of the American dream, the ability to rise through society by way of hard work and determination. I see the possibility for something similar in restricting the general publics ability to access financial instruments. Restrictions on pattern day trading and futures trading already exist, going a long ways towards making investing and trading difficult and convoluted for the average person. Further restrictions would likely serve to push retail traders and the average investor even further out of the financial space, and result in a crushing blow to the market for institution operated financial instruments. Both of these results are entirely anti-American; I am against regulations that restrict the abilities of myself and fellow Americans to invest.
Jorgen Wu Comment On Regulatory Notice 22-08
The ability for the general public to invest in various types of financial instruments and vehicles should not be restricted, and doing so would be anti-American in spirit. Let us consider and example of why this the case: the internet has helped promote the democratization of information and provided an incredibly valuable resource for individuals to learn, communicate, share ideas, create art, and so much more. To suddenly restrict the ability of the general public would take all of this away, and go a long ways towards creating an aristocracy, where only well positioned individuals can access key resources, in turn creating self reinforcing cycles. Not only is this wrong on moral grounds, but this goes against the idea of the American dream, the ability to rise through society by way of hard work and determination. I see the possibility for something similar in restricting the general publics ability to access financial instruments. Restrictions on pattern day trading and futures trading already exist, going a long ways towards making investing and trading difficult and convoluted for the average person. Further restrictions would likely serve to push retail traders and the average investor even further out of the financial space, and result in a crushing blow to the market for institution operated financial instruments. Both of these results are entirely anti-American; I am against regulations that restrict the abilities of myself and fellow Americans to invest.