Apr. 19, 2022
Dear SEC team, My name is Gonçalo, and I'm a retail investor from Lisbon, Portugal. Investing in American Companies is Investing in the Future of your country. However, my experience has been a painful one because: I'm tired of watching Market Makers manipulate the price of stocks using Naked Shorting, Watching a dozen of Financial Organizations (100% Criminals) decide which companies will win or fail, Active-Investors who make a living from destroying American companies ( Sears, Kohls, or Bed Bath and Beyond) Watching what's been going on for so long, and all the damage is done to millions of investors, pensioners, and average people that lost their life savings because of these Financial SCAMS, it's heartbreaking. Why do you (SEC) keep allowing these Institutions to DESTROY your economy and the trust of your investors? My comments about the rule: Naked shorting is a Crime!!! Organizations that do this should be held accountable and lost access to markets, rather than supported by the SEC. This rule allows the laundering of illegal naked shorts & persistent FTDs The NSCC explicitly “understands” that there are significant Fails to Deliver, Naked Shorts, and similar that need to be cleared. This rule proposes a service to “avoid” those pesky obligations. It does so by introducing a new transaction layer that “novates” (replaces) old obligations b/w NSCC member lender / short-sellers / prime brokers / etc. with a new obligation b/w a member and the NSCC itself as the new counterparty. This novation is done with even more lending of securities. We don't want or need this rule! We just need you to STOP this criminal that continues to naked short stocks. The organizations that are supposed to protect all investors (including retail) are starting to look like they are completely corrupt and only work for a minority of the population. I used to admire your country's economy and innovation. Part of me wanted to keep quiet and give up investing in your market, however, I admire your country too much and I want to make my contribution so that changes are made that safeguard the jobs, entrepreneurs, innovators, and investors of future generations. Thank you Gonçalo