Apr. 20, 2022
Allowing theoretically infinite FTDs via NSCC bag-holding is not going make our markets more free, more transparent, nor will it allow price discovery. What it will allow is another "Self Regulatory Organization" to cover for for abusive short sellers and corrupt market makers. It will allow pensions and other retirement accounts held by hard working Americans to be devalued. It will further dissuade domestic and foreign investment as the reputation of our markets become further tainted by FTDs. There is literally no good reason to implement a provision allowing FTDs other than saving corrupt businessmen from their obligations. At the end of the day, it makes the rolling ball of s***t all the bigger. Who is going to pay for all this when the music stops? It's going to be average Americans. If this provision and others like it isn't stopped, we will wake up one day with either no money in our savings accounts, or a dollar that's lost all of its value. What then? America is waking up. You should too.