April 20, 2022
I want to start by saying that I am against this rule. And am surprised by the imcopetence of the SEC by suggesting this rule.
From my understanding
this rule creates a clearing / reset mechanism for fails to deliver naked short sales. The failure to deliver means that something that has been purchased has not been delivered. And a naked short means selling something that one does not own. How the fuck does an entity responsible for market transparency and fairness even suggest this rule?? How come a regulating entity cannot be trusted to, unsupervised, have the most basic morale compass to understand this is theft?
I have lost most faith in the stock market however I want to share my opinion on this rule as the Sec is too fucking corrupt or incompetent to discard it. Cheers you steaming piles of shit.