Aug. 10, 2022
To Whom it may concern, No additional alternative sources of collateral should be supplemented for bad investment decisions. These protections are not in place for the general public and it only leads to more moral hazard by risk takers who do not see or feel any reason to not bigger bets. Risk assessment only needs to occur when there is risk involved, adding this new "feature" to the market is just another step in eliminating risk for the participants that have access the average citizen's retirement. If one can make a bet with no downside consequences, why would they not take that bet. They always will and this gives more reason to do it, because this essentially is gambling with the public's money. Please note that strongly I oppose and recommend the SEC reject this SR-OCC-2022-802, Notice of Filing of Advance Notice Related to a Master Repurchase Agreement as Part of The Options Clearing Corporation’s Overall Liquidity Plan. The OCC should be looking to enhance its margin requirements for existing participants as well as demanding collateral within 60 minutes of an expected volatile event in the stock market. To echo Chance Fergerson's response to this: The OCC has an obligation to manage the risk of its participants and the investments traded through the OCC. At no point, should a financial contagion scenario be allowed to ensnare others, rather it should be absorbed by those government agencies and participating members who knowingly engaged in a shared default agreement. Thanks for your time and consideration.