Apr. 20, 2022
This proposal is not valid and goes against a free market. The new rules stated would amount to collusion between the SEC and large investment firms. This is evident due to the timing of the proposed rule change and it beneficiaries. It would be equivalent to a cop (the SEC) covering up a crime for perpetrators (large investment firms) by taking bribes to release them just after they robbed a bank. Similar negligent practices were exercised by way of bailouts during the 2008 financial crisis. Robinhood proclaimed the same need for market liquidity in January 2021 and was under investigation for possible collusion with its order processor Citadel Securities. These entities were creating systemic risk by over-leveraging and preventing free trade during natural market price movement. Fire sales are a natural component of free market dynamics and unfairly preventing them would amount to manipulation. The systemic risk is created by gross negligence of the SEC and the lack of accountability from large investment firms. These rules will not stand against appeal in a federal court. Also, such rules would be a gross violation of the SEC's policies in regards to protecting retail investors. If these rules are passed, each standing member of the SEC are likely to be investigated and subpoenaed to the highest extent of law for racketeering and conspiracy against the state. Truly, Public Defendant