Mar. 4, 2024
Hello, I'm writing as a legal citizen of the United States, to state my opposition to the proposed rule change, listed in the subject of this email. The cat has been out of the bag for awhile in regards to the massive amount of naked short selling, swaps, and re-hypothecation of assets and thereby our US Dollar, and the pilfering of the middle and lower classes for the enrichment of the upper class. I am a capitalist, but the SEC has failed to allow a free market, instead opting for large scale corruption. The SEC is, at best, incompetent, and that's me being polite (the majority believe you are complicit). Allowing the OCC to waive margin requirements is a bridge too far (and we're already standing on a rickety structure built by over-optimistic architects). Henry Ford stated (I paraphrase), "if the people understood the workings of our financial markets, there would be a revolution by morning". The people are beginning to understand, and to avoid turmoil for everyone, we recommend you do your jobs, prosecute (with the cooperation of the DOJ), those abusing our financial system, and allow the natural transfer of wealth back into the middle and lower classes to take place. We would love nothing more than a mutually beneficial relationship with the SEC, and the good folks working within it. There is a lot of hyperbole online, but most are good people who simply wish to participate on a level playing field. Thank you. Tim S.