What you are proposing is completely unethical and will only exacerbate the already growing wealth gap in America. A leveraged S&P 500 fund is an excellent vehicle growing wealth. Even people with just a few bucks in their Robinhood account can invest in it. You should drop your support for this bill for the same reason you wouldn't support the government doing this for all stocks and ETFs. Penny stocks pose just as much risk yet they don't have these restrictions. This bill has good intentions but will negative consequences.
Matt Dellinger Comment On Regulatory Notice 22-08
What you are proposing is completely unethical and will only exacerbate the already growing wealth gap in America. A leveraged S&P 500 fund is an excellent vehicle growing wealth. Even people with just a few bucks in their Robinhood account can invest in it. You should drop your support for this bill for the same reason you wouldn't support the government doing this for all stocks and ETFs. Penny stocks pose just as much risk yet they don't have these restrictions. This bill has good intentions but will negative consequences.