Aug. 01, 2022
August 1, 2022 This new rule is an absolute travesty. The main purpose is enabling defaulting Members to raid pension plans before drawing on their own capital or liquidating their own holdings. If you have Members who are so incompetent and conduct such fraudulent business that they default then it is the duty of this SRO to handle that event. But as this rule clearly outlines you all have no limits to your greed or your degeneracy. Instead under the text of this new rule there is 0 obligation to take responsibility for criminal fraud, or downright incompetence. Instead you are simply granting Members legal right to socialize the losses of the risky bets they have lost. This rule marks a new attack in the class war in America. I am appalled that this rule is being forced through, just in time to profit off of the forthcoming collapse. When this rule is leaned upon to allow the theft of working Americans pensions by the financial elite there will be consequences. We