Out of the four commissioners in the SEC who voted, Hester Peirce was the only one who voted no on market transparency.
What caught most investors by surprise is that Gary Gensler voted yes.
The retail community has of course dedicated the time to connecting some dots here in regard to Hester’s line of work.
It comes as no surprised to why she voted no for market transparency, but more on that below.
This SEC commissioner is under fire by retail investors, urging her to resign if she cannot meet SEC obligations.
This story is getting really interesting.
Welcome to Franknez.com – the blog for retail investors. The community has once again caught another regulator with their hand in the jar and I’m going to break it down for you.
Let’s get started!
If you follow me on Twitter, you knew I was going to expose this.
Many of you want the insight.
And after going through the connections, it’s incredible how Hester Peirce has not been removed yet.
Hester Peirce has been under high scrutiny on Twitter due to voting no on market transparency.
This market transparency would increase hedge fund trade disclosure, something the ‘ape’ community has been fighting for since last year.
I urge retail investors to submit comments using the SEC link she provides on Twitter.
For now, here’s how her vote has been influenced throughout her scandalous career.
Hester Peirce is Sponsored by Mercatus Center
This first piece to Hester’s background really sets the entire mood and allows us to understand her decision to vote no for market transparency.
The Intercept wrote a piece on Hester Peirce in 2015 titled, “SEC Nominee To Oversee Wall Street Works At Think Tank Dedicated To Blocking Regulation.”
And according to the research, Hester Peirce received 98% of her salary from the Mercatus Center, a “think tank” that provides an academic façade to a radical anti-regulatory agenda.
But that’s not all, Mercatus Center focuses on the lobbying priorities of its corporate funders.
The Mercatus Center has been described by the Wall Street Journal “as a coordinating center for lobbyists trying to block a flurry of regulations.”
It’s no wonder Hester Peirce voted no for market transparency.
She’s tied to a group of lobbyists who are anti-regulation in the markets.
Former President Barrack Obama nominated Hester Peirce to fill in the Republican seat on the SEC during his administration but was appointed by Donald Trump in January 11, 2018.
An agenda to influence government policy
The Mercatus Center is one of the first think tanks formed by the right-wing billionaire Koch brothers to influence government policy.
The Koch family has provided over $35 million to the Mercatus Center in recent years!
Other funding has come from ExxonMobil and Morgan Stanley.
Koch Industries also deals with derivatives such as stocks and bonds and is deeply involved in implementation efforts of the Dodd-Frank reform law.
A law that lacks much transparency needed to enforce a sustainable market.
Gary Gensler has acknowledged the lack of regulation and transparency in the Dodd-Frank reform law and has voted yes for higher levels of market transparency.
Connection to Citadel
Hester Peirce was an associate at Wilmer, Cutler & Pickering law firm which is no WilmerHale.
WilmerHale are also lobbyists, as depicted in their annual lobbying income report.
In 2004 we see Citadel show up in the law firms income report.
And although Hester Peirce worked at Wilmer, Cutler, & Picker from 1998-2000, the lobbyist group confirms the significant conflict of interest there is with Hester now a commissioner for the SEC.
This SEC commissioner has also opposed regulating private funds such as private family offices stating they are not a systemic risk to the financial system.
However, private family offices are known as ‘unregulated hedge funds‘ since they are not required to register with the SEC.
These private funds hold trillions in global assets with 40% being held in the United States alone.
Hedge funds may use these private funds as a loophole to further overleverage their positions in the markets.
Without any regulation, it’s simple for hedge funds to get away with incredible amounts of shorting in the markets.
SEC Commission Hester Peirce is not for retail
The SEC is a government agency that is supposed to protect retail investors from predatorial strategies imposed on the average investor.
The suppression of AMC and GME stock has led the ‘ape’ community to spark a movement demanding for a fair market.
‘Meme stocks’ have been synthetically driven down through overleveraged shorting in efforts to delay a short squeeze event.
AMC and GME are currently sitting at a very high 20% short interest, that’s more than enough rocket fuel to drive their share prices to the moon.
They are perfectly conditioned for what the ape community refers to as a MOASS (mother of all short squeezes).
Financial institutions betting against these stocks do not want that to happen as hedge funds already saw billions in losses last year just from momentum rallies alone.
Now it’s up to retail to lift the suppression imposed on these stocks so they run on proper supply and demand without any market manipulation.
It’s time to let the market decide who wins and who loses, not lobbyists and market manipulators.
In depth DD by AMCBiggums
Be sure to check out AMCBiggums deep dive into Hester Peirce.
He breaks down the major points discussed in this article.
I’ll be leaving my topic discussion at the end of the article as well.
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