Apr. 20, 2022
The market already lacks transparency and accountability, so this is an absurd addition to fudging the rules for those with the money to buy power. It is very clear what this rule proposes despite the attempts to hide what it proposes in legal speak. It would increase obfuscation of true market price discovery via onward lending as well as remove infinite risk for naked shorters entirely. This will encourage a very risky business practice. How will this improve the "fairness" of the market, which is already dubious at best? FTDs are already "reset" through multiple methods (e.g., deriviatives not allowing them to reach their 30-day mark when the security needs to be delivered.). The market is supposed to work fairly for all, not just recklessly powerful institutions who use every means at their disposal to fix the game for profit at the expense of the working class, and their powerful lobbying and political donation machine to further influence "watchdog" groups. Please think on what your true role is at the SEC: serve the powerful or the country? Sincerely, Nathan J. Harris “Worrying does not empty tomorrow of its troubles, it empties today of its strength.” ~ Corrie ten Boom