I feel that the current system of allowing Hedge funds, and wealthy investors to run rampant on Wall Street shorting stocks into oblivion only to slight the retail investor. Overleveraging themselves into positions based on pride and ego and then expecting the American Taxpayer to foot the bill when they go bankrupt and lose people's retirement and 401k is absolutely appalling. Selling something and failing to produce it to the purchaser is called theft. FTDs should be forced to settle immediately. And T+ anything over Zero is rediculous. Today's technology is advanced enough to provide accurate accounting information instantly. Payment for order flow by a duopoly on Wall Street also needs to be abolished.
Barry Greer Comment On Regulatory Notice 21-19
I feel that the current system of allowing Hedge funds, and wealthy investors to run rampant on Wall Street shorting stocks into oblivion only to slight the retail investor. Overleveraging themselves into positions based on pride and ego and then expecting the American Taxpayer to foot the bill when they go bankrupt and lose people's retirement and 401k is absolutely appalling. Selling something and failing to produce it to the purchaser is called theft. FTDs should be forced to settle immediately. And T+ anything over Zero is rediculous. Today's technology is advanced enough to provide accurate accounting information instantly. Payment for order flow by a duopoly on Wall Street also needs to be abolished.