Aug. 10, 2022
To Whom It May Concern: Please note that I vehemently oppose, and recommend the SEC reject, SR-OCC-2022-803, Notice of Filing Advance Notice Related to an Expansion of the Options Clearing Corporation's Non-Bank Liquidity Facility Program (to destroy pensions). Under no circumstances should the OCC have access to pension fund and insurance money because a clearing member is about to default. We cannot keep socializing the losses of these stock market speculators. There must be dire consequences for these gamblers. Relying on working class taxpayers to bail them out, or for the FED to keep printing more and more money to cover it, is not a sustainable business model. 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." Looking forward! Chris