April 22, 2022
This rule is written to circumvent that requirement. Brokers, hedge funds and the like have acquired debts they do not (or cannot) want to pay. A perfect example is Citadel owing (per their 2021 statement) over $65 billion in securities sold, not yet purchased, at fair value.
So, rather than pay their debts like the rest of us, they make new rules to avoid them. In the process this will be the largest robbery of assets in world history.