April 20, 2022
Nothing says we did not learn our lesson quite like rule Release No. 34-94694 File No. SR-NSCC-2022-003. The lower and middle classes of the general public have never forgiven Wall Street or the Federal Government for 2007/2008 crash. When this market crashes again and more banks need bailout money, the Federal Government can either be the villain that destroyed this country and jeopardized the global standing of the US dollar or it can claim to be the innocent bystander and feign never knowing what laws/regulations Wall Street had been breaking for years as this was all recently stopped. This document is spreading faster than Cholera did in 1832 and the public is already pointing the finger at SEC, the Biden administration and anyone else tied to either party and the short sellers who racked up the copious amounts of FTDs. Which means anyone currently in any branch of office tied to either will not be returning to their desk after 11/05/24. No job is safe, if the new administration cant fire someone outright, they create a hostile work environment and drive someone out. Those who are terminated, resign or whatever will not be hirable (not for a while anyway), because they will be radioactive. You could be a low-level mail clerk who quit two weeks before everything collapsed, but because this will be so bad said mail clerk will carry the same level of negative association as those directly responsible. And affected employees and officials may be hired by a friend or family member, but not after several years, because no one wants to be the person who brought one of them onto the team if something goes wrong. Scapegoats will not save anyone if this rule is implemented. Because this market collapse will be bigger than the one that happened in 07/08. Any and all material will be fuel for the for the opposing party to shovel into the fire in 2024. So for those wanting to implement it, theyll probably be fine with the offshore money in untouchable accounts, everyone else not so much. Its no skin off their back after all.