Here’s a disturbing - but not surprising - thing I heard this week. A reliable source told me that a Republican rep recently heard from his constituents - YOU all - about Gamestop. The people had concerns about shorting, PFOF and internalization, and all the craziness in markets.
The rep went to one of the most senior Rs in the House and said "my constituents care about fairness in markets, what can we do about that?" He was told to FORGET about it because of their donors: "you don't want to mess with these people. You don't know what you're wading into.”
Gee, I wonder who that was? This is what we're up against - they will spend huge amounts of money, they will make massive political contributions, all to protect the golden goose and fight the changes that are coming from the SEC.
I said this in February, and it's been unfolding for several months now. There is a full-court press taking place right now across the board - in the press, through massive political contributions, delay tactics, and intense pressure behind the scenes.
https://twitter.com/dlauer/status/1494328335777763340
Hit pieces. Manipulation of statistics. Questionable studies justifying internalization and ignoring the real issues. The constant denigration of opponents and ad hominem attacks towards us as "political" and "populist" without engaging on any substance.
They mock us because they know we're right. They don't engage on substance, because they know they'll lose. They pretend they're just trying to improve markets, but their greed and hypocrisy is clear as day.
These firms aren't trying to improve markets and make them more efficient. They're not making arguments based on anything objective. They simply want to maximize their own profits and their annual bonuses.
They find people who have been making these same arguments we make their entire careers, and pay them a ton of money to start making the opposite argument. They fund industry panels to make it look like the industry is opposed to market structure change.
They will spread negativity about the SEC, they will try to dissuade you from the commenting process, and question the motives of those trying to make changes. There are already bots on social media doing this, and stirring up FUD. 
The most transformational changes in markets in nearly 2 decades are going to be proposed in just a couple of weeks. These changes will transform how and where trading takes place. These changes will undo the damage regulators did in the past...
The incumbent rent-seekers will gaslight you into thinking the upcoming changes do the opposite - that these changes pick the winners, because these powerful firms are TERRIFIED of having to compete on a level playing field. There should be little doubt what we'll be up against.
You might be cynical or tired of everything at this point - I don't blame you. But never lose sight of 1 thing - that's exactly what they want. They don't want you to trust the SEC. They don't want you to comment or fight. They want you to shut up & continue to be their product.
#WeTheInvestors are here to stay. We're going to fight this every step of the way. We're fed up with this inefficient, concentrated, opaque, corrupt market structure, and we're done letting the rent seekers design markets.
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