Apr. 20, 2022
The market already lacks transparency, regulations and accountability for large institutions. This rule only seeks to amplify all of those problems. It is very clear what this rule proposes even though it, like all other rule submissions, are buried in legalese in an attempt to hide their true functions or dissuade the average investor from trying to decipher what they mean. This rule would increase avoidance of true market price discovery through onward lending. It also removes the infinite risk of naked shorting entirely, and in so doing the deterrent of engaging in what is supposed to be very risky business practice. It solely benefits large investment institutions like banks, hedge funds, etc and completely ignores the average retail investor. Even though practices such as naked shorting securities are supposed to be illegal, this rule actually will greatly aid the financial institutions in continuing these practices by removing most of the risk involved therein. How does this rule contribute to a free and fair market at all?! Simple - it doesn't. FTDs are already "reset" through a variety of methods such as using derivatives not allowing them to reach their 30 day mark where the security needs to be "delivered." It is very frustrating to see rules like this being proposed that only favor institutions that are seemingly hellbent in destroying good companies for a quick buck using supposedly illegal means to do so. Hopefully you'll consider the words of retail investors more with your decision making on regulations, as we've been educating ourselves a lot more over the past couple years. This proposed rule is a slap in the face to anyone and everyone who has ever purchased a security in US markets. The NSCC would have you endorse their criminal activities under the illusion of fairness. They want you, our sole remaining force of good in the markets, to become their Sheriff of Nottingham, assisting the financial criminals and financial terrorists in taking that which does not belong to them and leaving nothing but destruction and poverty for the average citizen in their wake. This same policy has been proposed TWICE before under different guises because the morally bankrupt white collar thieves on Wall Street are TERRIFIED they will be caught by the CONSEQUENCES of their own poor decisions. They are horrified that they might no longer have the option of sucking the lifeblood from the very veins of our economy, that they will have to work to earn that which, until now, they have simply taken. They fear that those mechanisms of capitalism which once made our nation so prosperous will escape their stagnating influence and begin to recognize them for the parasites they are. It sickens me to see these bad actors propose such blatant exploitation methods over and over and over, just waiting for the day one of us is not vigilant enough. They think themselves above everything - above the law, above the consequences, and above the investors they exploit. They call themselves the “elite” and consider the profits of fraud and abuse to be their divine right. I would ask that you help deliver a just reward for their treachery by denying this and any other rule changes they propose to further promote their systemic corruption. They are a sickness which must be burned out from the roots and never permitted to return - for what began as but a single foul seed long ago has now become a massive national security threat to all Americans and many foreigners as well. The impact of their actions will be felt horrendously within the US, but the global effects will be massive as well. I implore you to take this threat to the very sanctity, fairness and transparency of our markets for what it is - a threat against every single retail investor. That “there are rules for thee but not for me”. Please do your part and stop this. We the people are no longer asleep - we are watching things very closely now. More and more of us are waking up to the blatant corruption each day. Do your part and stop this. Please be on the right side of history.