TL;DR: The Achilles Heel? The Silent Majority of probably ~3000+ at the SEC.
Let’s look at how the SEC works. Why does the SEC suck? Anyone with any competence is bought with 6-7 figure paychecks or buried. It’s an organization (like most) where those at the bottom do all the work and those higher up spend all their days trying to politic their way to the top and get a promotion to be one of the 5 commissioners. The easiest way to do this is to get influential people on Wall Street on your side. So you have the 5 commissioners, there are probably ~100-1000 bootlickers underneath trying to become a future commisioner or just work their way up. The rest dgaf about the political ladder in the org. Can anyone that’s worked at a government org, also validate this?
How many people work at the sec? ~4,200!
That means there are around ~3000 people. That are just there to do their job. These are the people that do the actual work. These are the people that read the comments to the letters. That bring a summary to their bosses who then make the final decision. These are normal people with a conscience. They exist in their SEC bubble. They don’t know. They’re like Lisa from the recent AMA. They don’t even know what DRS is. These 3000 people spend time amongst each other, spreading rumours and eating lunch. Just like any work place. The know what they know and that’s it.
These 3000 people would not be able to work if they were getting thousands of passionate letters from retail investors. Most passionate. Some very intelligent. These are the people that HAVE TO READ EVERY LETTER. THAT IS THE ACHILLES HEEL. These people don’t care enough to find out the truth about the markets unfortunately. Like most of us before GME. Those you hear from at the SEC publicly are a part of the other 1,200 trying to climb up the SEC letter. 3000, the vast majority, aren’t part of the shit show.
These are the people that do all the work, and these are the people whose lives would be ruined emotionally if they found out the truth. They would not be able to exist in their little SEC bubble. Word would spread like wildfire. You can go on CNBC and tell the public that it’s all a conspiracy theory. This strategy would not work at the SEC. They’re too close to the data. They’re the ones who do the actual work after all. All of a sudden too many things would start clicking. These people would want answers. They would ask too many questions that their bosses would not be able to answer.
How many letters? Thousands for every rule, every time. It’s the equivalent of setting the SEC on fire and giving the silent majority Thor’s hammer and telling them to fck their bosses up. If it was any easier it would have been done ages ago.
Let’s arm the silent majority at the SEC against their bosses. Forget the top 5, educate the 1000s working under them. We have the ability to arm them. The silent majority at the SEC.
I think it’s time we start arming the SEC with both our passion and our DD. Give them a mandate from the people they can’t ignore. These people HAVE TO READ EVERY COMMENT LETTER SENT.
If you’re smooth brain, ask as passionately as you can for their help in stopping the corruption. In saving the country. Speak from the heart.
If have any wrinkles, hit them with that good DD. Arm them with the knowledge they need to go into battle. Speak from the brain.
Our goal isn’t to reach those at the top at the SEC. It’s to reach those thousands clocking in and out underneath.
Edit: https://www.sec.gov/rules/proposed.shtml
thanks for the link u/I_DO_ANIMAL_THINGS
A good place to start to at least have an idea of the rules in process. Hopefully we can get a thread going with the rules and translations from local wrinkle brains u/Bye_Triangle at some point.
Also I’m sure there’s other places to leave comment letters as well. Hopefully we can round those up too. A few hundred letters meant GG had to ask congress for a higher budget last time. To hire a few more people just to read all the letters and comments. Let’s see if we can’t get a whole new department just to read the letters this time.
Another link, thx u/my_oldgaffer