Apr. 20, 2022
I am a retail investor, and would like to make my thoughts to this proposed rule known. This rule flies in the face of fair market mechanics, and gives unlimited power and scope to bad actors who would abuse such mechanics. 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. 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. Passing this new rule would only further deteriorate the American public's faith in a "free and fair market". I urge you to withdraw this proposal immediately. We need to hold people that have ruined this country accountable. Bad bets should not be covered with IOUs they should be paid for completely. It isn’t fair that coronations and lending parties/Market Makers get to receive bailouts to not be held accountable for their own actions, while the average retail investor gets screwed over. Please fight for the average hard working American and not let this proposal pass.