Toomey to SEC: Don’t Restrict Investor Freedom Under the Guise of Investor Protection
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Originally published 2021-09-30 09:51:00 — www.banking.senate.gov
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Toomey to SEC: Don’t Restrict Investor Freedom Under the Guise of Investor Protection
Toomey is absolutely 100% RINO. It isn’t that he hates Trump that makes him a RINO. Toomey is in the pocket of big financial companies who pay him to do his bidding. Forget Democrat or Republican nonsense. Toomey is attempting to write legislature that would protect “payment for order flow” for wall street. Payment for order flow is another tool of big financial companies to rig the marketplace against the ordinary investor. Toomey says that zero commissions is a benefit but the truth is that these companies are scalping investors by manipulating the price of stocks to their favor. Payment for order flow is like playing poker showing their hand to the house. What idiot would show their poker hand to the other players? It is quite obvious Toomey is getting money – probably a big bag of cash dropped into his lap to pass legislature to preserve profits for wall street. People in the counties of PA that Toomey represents don’t benefit from payment for order flow whatsoever. Those people in those PA counties are hard working Americans who are trying to get by and live day to day. Most of those people who live in the counties he represents probably don’t even have a brokerage account because they live paycheck to paycheck. Toomey is simply a henchman who is getting paid to exploit the middle class. Just another horrible human being. Most free market Republican are probably against payment for order flow too because it is unfair. This practice has been banned in many countries like Canada and UK yet it is legal in the US? This guy writes a bill called investor freedom act 2021. it should be called “shafting the small investor for my pals on wallstreet”. Unbelievable deception. and a disgrace to Pennsylvania.