If companies stop reporting quarterly, then all of the bad news is going to come all at once at the end of the of most companies fiscal year in the fall. Since it’s every industry, the entire market will surge or sink every fall. If people had insider knowledge, well that’s a yearly wealth transfer from your 401k to the 1%.
If companies stop reporting quarterly, then all of the bad news is going to come all at once at the end of the of most companies fiscal year in the fall.
Also, it isn’t as though they won’t have internal reports. And given the deplorable state of the SEC, I have to assume this would lead to some wild insider trading in between annual releases.
If people had insider knowledge, well that’s a yearly wealth transfer from your 401k to the 1%.
It’s arguably worse than that. People passing around unregulated reports under the table can still lie to one another with abandon. So the black market for inside info is ripe for fraud and scams which can’t even be prosecuted normally, because its not information anyone has to report out to a public commission.
If I want to come in and release the “Double Super Secret Real Microsoft Numbers” and spread it around, I can effectively manipulate the price of the stock based on how many people I can dupe into believing my phony figures.
Alternatively, global investors will start to shun the US, because US companies don’t have to be as transparent anymore. Then there is a giant sucking sound of capital out of US markets, and the stock market and dollar tanks.
You would think that a President would want to avoid this, but most of his wealth is now in crypto, and if the dollar tanks his crypto is worth more dollars.
He is so transparently out for his own gain, and those of his Crypto Broligarch friends, over what is best for the country as a whole.
An awful lot of crypto seems to track along with the American stock market. Maybe not an exact mirror, but if watch big drops/gains in S&P, you’ll usually see big drops/gains in something like BTC, anyway.
No, but if the dollar tanks then crypto arbitrage bots will make sure the value of the dollar vs. crypto tanks along with it. People invested in crypto (but who live in dollars) get a big win at the expense of everyone else.
If companies stop reporting quarterly, then all of the bad news is going to come all at once at the end of the of most companies fiscal year in the fall. Since it’s every industry, the entire market will surge or sink every fall. If people had insider knowledge, well that’s a yearly wealth transfer from your 401k to the 1%.
Next up will be “get rid of annual reporting”. They’ll change it to be “every 4 years, the first Tuesday after the presidential election”.
I’m just thinking that Taco wants it to be timed right after things, like, oh, say, midterm elections.
Also, it isn’t as though they won’t have internal reports. And given the deplorable state of the SEC, I have to assume this would lead to some wild insider trading in between annual releases.
It’s arguably worse than that. People passing around unregulated reports under the table can still lie to one another with abandon. So the black market for inside info is ripe for fraud and scams which can’t even be prosecuted normally, because its not information anyone has to report out to a public commission.
If I want to come in and release the “Double Super Secret Real Microsoft Numbers” and spread it around, I can effectively manipulate the price of the stock based on how many people I can dupe into believing my phony figures.
Alternatively, global investors will start to shun the US, because US companies don’t have to be as transparent anymore. Then there is a giant sucking sound of capital out of US markets, and the stock market and dollar tanks.
You would think that a President would want to avoid this, but most of his wealth is now in crypto, and if the dollar tanks his crypto is worth more dollars.
He is so transparently out for his own gain, and those of his Crypto Broligarch friends, over what is best for the country as a whole.
He also owns a large portion of a publicly traded company and is seeking to be able to obscure his finances there more than they already are.
An awful lot of crypto seems to track along with the American stock market. Maybe not an exact mirror, but if watch big drops/gains in S&P, you’ll usually see big drops/gains in something like BTC, anyway.
Not sure about Taco’s shitcoins, though.
No, but if the dollar tanks then crypto arbitrage bots will make sure the value of the dollar vs. crypto tanks along with it. People invested in crypto (but who live in dollars) get a big win at the expense of everyone else.
You would think that would happen but I doubt it at this point.
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