The story of this pending change is ominous to say the very least. I guess seeing a Third World Country like India go to T+0 was the straw that finally broke them.
The potential implications of a pure electronic system without transparency for abuse is simply unmeasurable. We can't get transparency now, and with a system they control, the institutional wholesale counterfeiting of our securities will literally explode.
Who wins here? Follow the money. The owners of central banks globally will have their backs broken with the profits from the phony currency and securities transactions that will explode exponentially.
You don't expand a system with the very features that have broken it.
I say again, this conduct is TREASON.
If the GAO finds anything else, you can toss their reputation for intergrity in the nearest landfill, which is where they will belong if they don't stop this crap.
I say now that I am suspicious. Both the SEC and the GAO report to Congress, and I find it hard to believe that the Congress will cite its own failure of oversight and corruption in any real, ungloved report.
To the GAO, prove me wrong, PLEASE!