Subject: N/A
From: John Haywood

Mar. 18, 2020

Comment on SEC Proposed Rule #S7-24-15: 

Dear SEC: Donald Trump said multiple times during the 2016 election (the Dow was near 18,000): "The stock market is a house of cards that'll as soon as the the Fed raises interest rates." With the Dow now over 28,000 few would contend that the crash risk has been reduced. Obviously, it's considerably greater. 
My wife and I are now in our mid seventies and like most folks our age most of our wealth and income comes from the stock market. Leveraged and inverse funds are the only means by which we can manage portfolio risk. Denied access to these securities, we'll be left with no alternative but to sell at the first hint of a crash and since we'll be "heading for the exits" at the same time as everyone else, the effect on the market will be nothing short of catastrophic. John D. Haywood, Durham, NC. 

John Haywood