April 20, 2022
The SEC's mandate isnt liquidity at all costs. We need markets MORE locates and LESS borrowing: the SEC is literally moving the markets backwards by adopting this.
Just because some market participants got themselves into hot water doesnt mean that the SEC should change the rules to protect them from consequences. Make the borrowers deliver on their promises instead of granting them overnight IOUs
This is a painfully dangerous house of cards that is being stacked up and could very well cripple the United States if allowed to persist with this level of 'smoke and mirrors' because of how manipulated the markets have become.