Feb. 7, 2024
Good afternoon, I’m commenting on the proposed rule changes for calculating margin requirements during times of high volatility. This proposal is frankly ridiculous, and the American people deserve more honesty and transparency regarding the internals of their financial system, and it’s adjacent markets. The American people would be shocked and appalled at this proposal if they could understand the jargon within it. The amount of redacted information regarding how to handle idiosyncratic risk which is redacted from the general public is insulting. Margin requirements should not be altered willy-nilly when big players are over leveraged and risk default, especially those that are non-bank and don’t broadly seek to service the general public rather than consolidate wealth to high-net-worth individuals and shady entities. Entities which have gamified financial markets for profit and control must pay up on their bad debts rather than consistently “failing to deliver”, no matter if it is a low level shell company or a central player such as Citadel Securities. Do right by the American people, Jarod Moeller