Why do people not care about the markets more? It's where the majority of the wealth is, it's how most people hold the majority of their wealth, and it's almost a running joke about how corrupt the markets are. The markets are meant to be the heart and soul of capitalism and they are rotted to the core. Can we get some more noise around rule changes for the good? To try and fix this broken system. Like i'm all for better labor laws and such but market reform should be a top priority for this sub. It is the rich and powerful's playground. At least that's my view.
Sorry I just don't get it some times…
https://www.cftc.gov/PressRoom/PressReleases/8734-23
It's a bit complicated to understand the whole thing if you don't know anything about markets. What i would suggest is reading the response Commissioner Christy Goldsmith Romero wrote. As she points out there are serious conflicts of interests in this rule.
https://www.cftc.gov/PressRoom/SpeechesTestimony/romerostatement062823
This isn't my 'discovery' or idea, it is mine to post it here though and see if people care enough to make their voices heard to avoid falling further into this unbalanced game of life we have going on here.
So to steal some other peoples words to simplify this,
The CFTC are working on pushing through a proposal which will allow the 'vertical integration' of certain financial institutions. In essence this will allow certain entities to act as exchanges, brokers, and clearing houses all in one. No points for guessing how this would benefit some market makers.
It would also provide them the ability to control all aspects of a transaction as well as being able to avoid disclosing the details, not dissimilar to the way FTX used to conduct business.
Surely this wouldn't lead to anything bad or unfair happening?
Curious to see how this post does in this sub. I'm not a usual poster here, just lurk mostly. I'm guessing not well but i still think it's worth a shot.. even if i can convince just 1 more person to comment on this thing and voice their displeasure that the CFTC is trying to slip this rule change in to benefit the upper class yet again. This rule just pisses me off. So i'm tryna get loud.
I guess in the end i'm just asking for you to take 15-30 mins of your day, read a bit, and if you feel strongly enough about what you've read, go comment on this rule change and speak up for market reform.
The link to comment is here: