Feb. 7, 2024
To whom it may concern, I am writing to let you know that I am against this rule the OCC is trying to pass for a few reasons. The first reason being the majority of materials they are working from are redacted. This is a major red flag for everyone. Redacted materials are hidden for a reason, never are they good reasons. The second reason is that it clearly gives the parties involved more time to use their available liquidity to get into further trouble. The writings on the wall have been showing a downturn for the economy and the financial industry for a long time. Since 2006, It has been clear that they have just been digging themselves a deeper whole with the intentions of having tax payers bail them out. This will be no different. Another reason is that it’s 2024. I am aware it is an election year and the need to push this nonsense further down the road and make it a softer long term landing is very important. I don’t believe that this would help anyone. This would once again only bring a larger hole for us to dig out of. It would let them carry on with their shenanigan’s for a longer time period. It will not change the outcome. Another reason is that granting them a larger margin is only leading to changing the rules for them. This goes against a free and fair market like the sec has been touting all these years. I have many more reasons but these should be adequate for now. Thank you for reading my thoughts, Have a good day