April 20, 2022
I am a retail investor, and would like to make my thoughts to this proposed disingenuous rule known. This rule flies in the face of fair market mechanics, and gives unlimited power and scope to bad actors who already abuse similar mechanics as they exist in the markets today. It is set in place to \"alleviate Fail To Delivers,\" but in action does nothing to eliminate them, and in effect protects the action of naked short selling, which is already illegal, aside from that one exemption Bernie Madoff wrote, which somehow still stands today...
This rule leverages the complexity of financial vehicles to put power in the hands of institutions, effectively safe-guarding them from their own bad bets that have them pinned up against the proverbial wall of economic collapse due to their poor judgement and self-regulatory nature. Passing this new rule would only further deteriorate the American public's faith in a \"free and fair market\" and could do more damage than just allowing these big players to fail, since if there is no faith in the markets, there won't be new \"bigger fools\" for the banks to dupe into holding those bags. I urge you to withdraw this proposal immediately and reach out to the DOJ with a recommendation that whoever wrote it be brought up on fraud charges for deliberately misrepresenting the best interest of the American people.