Aug. 10, 2022
August 10, 2022 I am against OCC filing SR-OCC-2022-803. Every individual should be against this proposal. Let us translate this into the most simple description. The OCC wants to cover their bad bets with pension funds. SR-OCC-2022-803's goal is in order to pay off Clearing Member gambling debts, OCC wants lopsided contracts to force others into giving them money fast (within 60 minutes) also agreeing that nobody defaults. The intention is to take the losses out of pension funds instead of out of the wallets of those making the bad bets. Wow, when it's written like that it sure seems like a terrible implementation of a rule, huh? Trying to hide this level of cruelty behind legalese is the icing on the crap cake. Do not allow this to pass