Mar. 4, 2024
Dear Sir/Madam, I am writing this email to oppose the implementation of SR-OCC-2024-001. As I understand, allowing this rule to pass will provide the OCC and the relevant risk management officers to 'play god' as it were in order to choose who can avoid margin requirements and who is susceptible to them. Totally unacceptable. Transparency is what matters most, then accountability when firms go in "too deep" so to speak. I'd rather not work harder to bail out bad behavior with my taxes, let the losers fail. Nobody gave me a cent when I was homeless after 2008. The counter to this would be that if these banks/institutions etc were to go down then the whole system might collapse. I would argue that the system is already broken if these big players aren't able to meet the current requirements. It also poses a risk to the wider market allowing this rule to be implemented as the OCC will get to decide who falls and who survives. In a nefarious scenario, the OCC could put the burden of liability on teacher's pension funds. Outrageous! No way my parents future pensions should be held accountable for Wall Street gambling. Kindest regards, NS Virus-free.www.avast.com