Apr. 21, 2022
Hello, I write to express my disgust with the proposed SR-NSCC-2022-003. This rule change allowing the DTCC to create as many shorts as needed to cover hedge funds bad bets is absolutely ludicrous. The fact is even being proposed is a clear indication that the SEC is woefully neglecting its sacred duty TO protect RETAIL investors. If allowed to pass, this rule change will do much more than hurt retail investors, it will show the entire world once and for all that US markets are a joke, built for, and controlled by the elites, at the expense of our entire population, and that will undermine confidence in our markets even more. If I as a retail trader make a bad bet, I hold the bag. If "too big to fail" banks do it, we bail them out with trillions in tax money (ahem, 2008), and make sure the little guy pays for the big guys bad bets.... Now you're trying to take that a step further? How can the SEC claim its not complacent, corrupt, and in bed with illegal naked shorters when you propose rules to protect the ILLEGAL NAKED SHORTING that dedicated, patriotic, determined retail investors have worked tirelessly to expose? I'm disgusted, disappointed, shocked - and motivated.... to see new leadership put into place at the SEC, which had lost my trust for good after this latest, ridiculously transparent attack on retail investors. Thanks Sara Vitale