Oct. 29, 2022
October 29, 2022 Rare are instruments with such elusive tendencies and destructive consequences as SWAPS. Lehman, Archegos, and now Credit Suisse have all reaped the great demise of abusiving excessively large, unchecked, unreported SWAP orders. Do you think the taxpayer will ignore another bailout. These buried bombs still have timers the SEC could extract with enforced transparency. Therefore, as a taxpaying American and retail investor, I could not be in more support of the application and ammendment of these rules and further encourage the path towards markets free from the weight of myopic gambling. With my support I request that the threshold be lowered to $100 million gross. This change may help detect more blatantly. Furthermore, I suggest the Commission to look at entire swap portfolios to determine reporting requirements not just parts, following the precedent in rule 13h-1. Report requirement dodging is in desperate need of mitigation. To diminish the use in different types of financial instruments for this dodging Security-based SWAP Positions must include all security-based SWAPS based on the same underlying or reference entity, regardless of whether they are debt or equity based. I wholly agree with daily reporting and praise the Commision's efforts to publicly release the data. Thank you for your time.