April 22, 2022
This rule is written to circumvent that requirement for Brokers, hedge funds and the like that have acquired debts they do not (or cannot) want to pay. A perfect example is Citadel owing (per their 2021 statement) over $65 billion in securities sold, not yet purchased, at fair value.
I will repeat the last part, Securities Sold but not Purchased.
So, rather than pay their debts like the rest of us, they make new rules to avoid having to pay their accrued debt. In the process this will be the largest robbery of assets in world history. Comment on this rule has been pulled twice and this is the third attempt to push it through.
This Rule should not be placed into affect.
Best Regards
Mr. Sulse