April 27, 2022
Dear Sir, Madam
Thank you for giving me the chance to express my views in regard to SR-NCCC-2022-003.
In my opinion this ruling will not only make it easier for the opaque structures involved in global finances to avoid punishment for their reckless activities, since the financial crisis of 2008. It will also enable them to continue these into the future.
As you know, the western world's, but especially the Federal Reserve's, policy of massive Quantitative Easing, combined with ultra-low interest rates has lead to the system being so indebted that return to anything like a previous monetary policy is impossible.
However financial institutions have taken EVERY opportunity to exploit the situation. Especially ruthless and irresponsible has been their use of the cheap credit offered to them by the relaxation of the Statutory Liquidity Ratio, at the beginning of the pandemic.
As you must also be aware these financial institutions used the leverage afforded them to intensify their shorting of many, many stocks and commodities.
I understand that those who find themselves closest to the heart of the financial system have the unenviable task of trying to avoid a global economic collapse and a depression of a kind not previously seen.
Having said that, I would implore you to try to prevent this, without giving those guilty of its causation another \"get out of jail free\" card, particularly as this will be at the expense of retail investors and other ordinary people, who have not been responsible for these systematic abuses. Still other people will be harmed as a result of holding their pension funds with the some of the same financial institutions who are responsible. Though they, too, have done no wrong, these people are, unwittingly, at risk of major financial loss.
In light of the above I urge you to retract this proposal.
The world is aware and is watching.
Yours Sincerely,
Susan Lloyd