ALL? Even CDFI banks, which is community development financial institutions (just spelling it out for the uninformed)? MDIs (minority depository institutions)? Stock exchanges themselves are oppressive, maybe you hate the capitalist system itself and not the system that ensures the efficient transfer of capital?
That’s a wealth inequality problem. Do you see how the problem would be exacerbated even more if there was no stock exchange and only the wealthy could invest/trade? It is a public market with no restrictions by the exchange itself, the only restriction is how much money you have (which is a wealth inequality or capitalism problem, not a problem with an exchange itself).
Your issue is with ownership, which is correlated to the wealth inequality problem. Stock exchanges provide a way for individual investors to own companies no matter how much money they have. If they were banned only the wealthy would own stocks and make the thing you hate even more prevalent
Banning an exchange wouldn’t do that uou would need to ban profuse ownership of companies completely. Again, not an issue with an exchange, which simply matches buyers to sellers. Would you ban Kalshi as well? Novig? Any others sports marketplace exchanges? An exchange is simply investors trading against other investors, your hate is misguided.
Bruh it was 1am I went to bed 😂 those are not fintechs, they are exchanges for sports and other events. You have a severe misunderstanding of what a stock exchange is and does. If you want to ban banks, private ownership, etc, that’s an issue with capitalism. Stock exchanges let everyone participate fairly in the market by allowing them to buy shares. By banning an exchange the wealthy wouldn’t liquidate their shares they would be held privately.