April 24, 2022
This rule is a clear attempt to launder naked shorts and FTDs The DTCC NSCC both know there are billions if not trillions of dollars in Naked shorts, FTDs and the like that need to be cleared. This rule is written to circumvent that requirement. Brokers and Hedge fund managers have acquired debts they dont want to pay back. Citadel still owes $65 billion in securities soldNot yet purchased. Rather than pay their debt like the rest of us, they make new rules to avoid paying them