Aug. 10, 2022
August 10, 2022 I am a member of the public, and am aware of OCC filing SR-OCC-2022-803 The filing requests a rule change the OCC must follow regarding disclosures and funding of its liquidity facility. The requested changes are harmful to US markets they request changing the rules regarding advanced notice, which has no value to the public, and substantial public harm. Only a cheating OCC can benefit: if they plan to follow the rules, there is no need for this change at all. they request a bailout for the individuals who made risky bets, thereby encouraging such behavior in the future All of their actions suggest the risk for a crash is large ($23.8B large) and growing Unless they suffer the financial and criminal consequences for their behavior, this will continue to happen. The SEC has a moral obligation to deny SR-OCC-2022-803 in its entirety. Failure to do so will create a larger bubble to pop when the next market correction, just like 2008 did for 2022