Aug. 09, 2022
August 9, 2022 This rule should not be passed. I cannot believe this is something that would even be considered, but then again, seeing as how laws and rules are purchased in this country, this does not surprise me. Please correct me if I am wrong, but OCC now wants force their way into pension plans to access a stable and reliable source of funding? How does that make sense? First, it brings to question why this would even be necessary? Isn't Wall Street considered 'smart money'? How does 'smart money' even position themselves this way? Why is it that taxpayers continue to bail out Wall Street time and time again while the Main street suffers? This would be detrimental to our country and the working class. Personally, I don't think there is anything as 'too big to fail'. CLEARLY, the foundation of our financial markets are built on a house of cards and we are beginning to see this house fall. If Wall Street made a bad bet, they should NOT be offered a 'refund' or any sort of bailout where they have access to liquidity that is not theirs to use. IF YOU LET THIS RULE PASS, YOU HAVE FAILED THE VAST MAJORITY OF CITIZENS IN THIS COUNTRY. PLEASE DO NOT REPEAT THE 08 CRASH AND LET WALL STREET AND BIG BANKS OFF THE HOOK. IF THEY FAIL, OUR FINANCIAL MARKETS MIGHT ALSO FAIL, BUT THIS WOULD GIVE US THE OPPORTUNITY TO BUILD A NEW STRUCTURE.