March 31, 2021
To who it may concern,
I am a retail investor with a background in economics. There seems to be a common link between historical catalysts of economic turmoil: over-leveraged institutions who are in over there head and too big to fail.
The old saying of If you owe the bank $1,000, its your problem. If you owe them $1,000,000, its their problem can be extrapolated to over leveraged institutions in the marketplace.
While the DTCC has already made great strides toward larger visibility and accountability of its members, I believe this proposition is paramount to firmly protect our market from a few over-zealous institutions who have over-leveraged themselves and believe they are too big to fail.
Naked shorting and writing naked calls IS the next Synthetic CDO. We have the pieces needed to see members positions real time. Now we need to be able to act fast to make sure these quadrupled-down institutions are not able to continue to kick the can down the road. The markets, the DTCC, and retail investors like myself deserve a system of accountability to be implemented. This needs to be approved ASAP. Thank you.
Yours truly,
Avery Withrow