Feb. 5, 2024
Dear SEC, Why are the banks allowed to trade in risky OTC derivatives to the tune of trillions and then get bailed out? Did they not learn their lesson in 2008? Did Dodd Frank not mean to fix this? Brokers were allowed to turn off the buy button in 2021 to prevent a squeeze with GameStop. They still have not unwound their positions (Credit Suisse and UBS). It has been 3 years! The plunge protection team has been suppressing volatility already. Why are they allowed to drag this out and then avoid margin calls when volatility picks back up? FINRA is not doing their job. CFTC is not doing their job. SEC is not doing their job. Your job is to protect the markets and retail from the corrupt banks, hedge funds, and brokers. Sent from my iPhone