Apr. 20, 2022
Hi, You don't know me. I am a just an average American citizen. I'm a Father of 3. I grew up on a farm. My Mother is Mexican/Apache. I only have an Associates degree in Aerospace from a no name technical college. I currently am a engineer working in the automotive manufacturing industry. I made it to where I am by hard work and taking opportunity when I could. Opportunities that only happen in the U.S., opportunities that everyone in the U.S. brags about. This country is great because it offers opportunities for the poor to rise up and become successful. The path I took was hard but it has done me well, but, it hasn't done me well enough. I still can't afford to put my kids through college and my retirement doesn't look great. I am basically forced to invest for my future. Any poor investment decision I make, I suffer and so does my family and so will my grand children when they come because poor investments hurt generational wealth. As an ordinary citizen, we are overlooked. Our voices are never heard. We don't have flashy titles. We don't have multimillion dollar news outlets to voice our opinions. This is the best I can do with what I have. SEC Rule Filing SR-NSCC-2022-003 is a complete slap in my face. It's a slap in the face for every ordinary investor. How is it that when a poor decision is made by the average man, they are dealt with swiftly with fines, penalties, and have to pay for incurred losses BUT when a multimillion dollar organization makes a poor decision, rules are written to protect them? Rule SR-NSCC-2022-003 allows for bad actors to make even riskier decisions to gain money and take wealth away from the ordinary citizen. When will rues be written to protect the people? The market already lacks transparency and accountability for large institutions. This rule would increase avoidance of true market price discovery through onward lending infinitely kicking the can down the road by removing 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's all upside for market makers which excessively naked short securities, and all downside for those on the wrong side of their shorting. How does this rule contribute to a "fair" market by any means? This is disgusting and the SEC should be ashamed of itself. PLEASE, stand up to this. Be the voice of the U.S. citizens that can't speak loudly enough.