Aug. 13, 2022
August 13, 2022 Given that Ms. Peirce is essentially a homunculus born of the corporate think tank complex whose career has been greatly boosted to assist with the process of regulatory capture, anything she opposes must be good. The DTCC is an institution that should have never been allowed to have the vast powers it abuses. If not for creative ledger management, it would already be dead. Because of their creative ledger management we're essentially at a point of suspended systemic failure. They've been dead for some time, they just avoid the loss by finding creative ways of avoiding writing it down assisted by their member's rampant abuse of the derivatives market. The value of an equity is based on its demand and scarcity. The DTCC has ignored this basic concept and facilitated the idea of \"infinite liquidity\ allowing for the number of shares in circulation to bloat wildly beyond what actually has been issued. At some point in the near future, a ledger will fail to close which will cause a massive chain reaction. Every day the can is kicked, the problem exacerbates. When it fails may congress use its collective brain cell and just let it die. The inherent culture of corruption surrounding the DTCC can not reformed, and much like 2008 no one will be held responsible and everyone involved, politicians, lobbyists, lawyers and financial professionals, will engage in even more reckless behavior if allowed to continue.