Need More Regulation on Wall Street!

 Once again, Wall Street received bail out from Main Street.  By forcing retail traders sell their position unwillingly, brokers selfishly protected themselves. They should feel ashamed.  However, this can be a good time to revisit many weak points in our regulatory system. Right now it is in favor of Wall Street at cost of hurting Main Street. With the strength of Wall Street, regulators need to do more to help Main Street.

  We need to redefine best execution. When one third of volume goes to wholesaler, it impedes price discovery. The benchmark for price improvement thus hurt. Considering the information advantage of market maker, regulator need to redefine what's best execution. Market maker should give retail investor more price improvement than NBBO!   Citadel Securities is a monopoly now. An antitrust investigation on Citadel Securities is imminent and necessary.  Can you imagine such a systematic important financial company is privately owned.  

Curb bonus of big banks. They are receiving free insurance (aka bailout) from Main Street. They can't use their insurance saving on trader bonus. It will only encourage them take more unnecessary risk.  

 Quarterly 13F is not enough! With the technology advancement, hedge funds do have the ability to release monthly 13F now!  

Increase the reward for whistle blower.Misconducts in big banks and hedge funds are hard to discover. You have to make sure  insiders feel rewarded to report misconducts.  

Wall Street need to report more data to keep market transparent! Especially transactions in dark pool and OTC! Wall Street always refuse to share more information because they make money from information asymmetry!  Lower the cost of data! Right now financial related data is absurdly expensive! It creates barrier for Main Street to do their due dillegence!

IPO allocation should lean toward retail investors instead of instructional investors!

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Comments (22)

Feb 4, 2021 - 9:01pm

 It's unacceptable that media used all words they knew to insult and humiliate retail investors.  America is about equality. Wall Street need to learn share the wealth with Main Street. There are less than 1% of population working in investment and trading related jobs yet they manipulated laws in favor of them. Restricting Wall Street will make our country greater to give more underprivileged people confidence and hope.    Tax the wealth! Top 3% can't move anywhere. Most of democratic countries impose high tax on rich. Where else wealth can move? Communist Russia or China? Adding tax on rich is the best way to calm down the angry Main Street.   Stock market is a big casino operated by Wall Street. Of course it make sense to tax casino operator more heavily due to their info advantage.   It is never about how you feel. It's how about how majority feel in a democratic country!

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Feb 5, 2021 - 6:55pm

Is the OP Elizabeth Warren's Asian cousin?
  • 1
  • 2
Feb 5, 2021 - 9:05pm

Milton Friedchickenman


Is the OP Elizabeth Warren's Asian cousin?  

WTF does a shitty take have to do with being Asian

It was a joke.  It seems like English is not the OP's first language.  I could have used any foreign group of people.  Do you think what I said is racist or not funny?
  • Intern in IB - Gen
Feb 6, 2021 - 6:23am

There comes the wallstreetbets crowd that failed to realize that pumping and dumping a shitty stock was eventually going to blow up on them

  • Analyst 2 in IB - Ind
Feb 6, 2021 - 7:29am

Would advise OP learn from RE guys on WSO. Always show up when you need them and rarely touch on topics they have no knowledge/ interest about.

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