Apr. 20, 2022
The market already lacks transparency and accountability for large institutions, so im disappointed this rule is being proposed. I've read every single page of legal speak in the file and it is very clear what this rule proposes. This rule would increase avoidance of true market price discovery through onward lending. It also removes the infinite risk of naked shorting entirely, and in so doing the deterrent of engaging in what is supposed to be very risky business practice. It's all upside for market makers which excessively naked short securities, and all downside for those on the wrong side of their shorting. How does this rule contribute to a "fair" market by any means...? I don't see it. FTDs are already "reset" through a variety of methods such as using derivatives not allowing them to reach their 30 day mark where the security needs to be "delivered." This is very frustrating to see rules like this being proposed that only favor reckless institutions. Hopefully you'll consider the words of retail investors more with your decision making on regulations, as we've been educating ourselves a lot more over the past couple years. This proposed rule is an affront to anyone and everyone who has ever purchased a security in our markets. The NSCC would have you endorse their criminal activities under the illusion of fairness. They want you, our sole remaining force of good in the markets, to become their Sheriff of Nottingham, assisting the powerful and undeserving in taking that which does not belong to them. This same policy has been proposed TWICE before under different guises because the morally bankrupt white collar thieves on Wall Street are TERRIFIED they will be caught by the CONSEQUENCES of their own poor decisions. They are horrified that they might no longer have the option of sucking the lifeblood from the very veins of our economy, that they will have to work to earn that which, until now, they have simply taken. They fear that those mechanisms of capitalism which once made our nation so prosperous will escape their stagnating influence and begin to recognize them for the parasites they are. It sickens me to see these creatures propose such blatant exploitation methods over and over and over, just waiting for the day one of us is not vigilant enough. They think themselves above everything - above the law, above the consequences, and above the investors they exploit. They call themselves the "elite" and consider the profits of fraud and abuse to be their divine right. I would ask that you help deliver a just reward for their treachery by denying this and any other rule changes they propose to further promote their systemic corruption. They are a sickness which must be burned out from the roots and never permitted to return - for what began as but a single foul seed long ago has now become the single greatest threat to all American livelihoods. I implore you to take this threat to the very sanctity, fairness and transparency of our markets for what it is - a threat against every single retail investor. That "there are rules for thee but not for me". Please do your part and stop this.