April 20, 2022
I am a retail investor, and would like to make my thoughts to this proposed rule known. This rule flies in the face of fair market mechanics, and gives unlimited power and scope to bad actors who would abuse such mechanics. It is set in place to \"alleviate Fail To Delivers\", but in action does nothing to eliminate them, and in effect protects the action of naked short selling, which is ALREADY ILLEGAL. This rule leverages the complexity of financial vehicles to put power in the hands of institutions, effectively safe-guarding them from their own bad bets. Passing this new rule would only further deteriorate the American public's faith in a \"free and fair market\". I urge you to withdraw this proposal immediately.
The SEC is supposed to be going after crime, fraud and market manipulation, not protecting the criminals who engage in such illegal activities. How much are Citadels Kenneth Cordele Griffin and Point 72s Steve Cohen promising to pay you to work for them after your time in SEC?
It is my sincerely held belief that the SEC is currently the most incompetent and corrupt institution in recorded history. Not only have you taken no substantial action against criminality on Wall St, you are actively colluding with the criminals to cover up their crimes.
Do the right thing, or you will forever be remembered as criminal conspirators who fucked over Main Street to satiate Wall streets greed.