Aug. 01, 2022
August 1, 2022 It feels extremely wrong to expect to borrow from people's pensions, at any given time, who do not know that their funds may be missing or end up gone. Should the need arise, the OCC should never liquidate the pensions of regular workers, retail investors, or any other non-bank, managers financial funds, or other clearing members of OCC. The derivatives markets appear to be underregulated, so that when they are doing well they're making money in such unfathomable quantities (that is more than actually exists), and by the same logic should not be taking money from the pensions of those who did not prosper in the same way. Pensions should not in any way be used as a cushion to soften the blow for greed of the members of OCC. To even suggest such a change indicates a sense of entitlement and complete lack of accountability. There is no reason to allow the potential for regular workers and tax payers to be fiscally responsible for systemic failure of financial institutions who should have been ethically responsible enough to prevent such a corruption/failure.