Mar. 5, 2024
Simply put margin is there to curtail risky bets. If organizations can count on or even hope for margin to be waved then we inherently get to the point of financial brinksmanship in which firms can be held hostage by bad bets if they become large enough. Such a system simply cannot be allowed to exist in anything which purports to call itself a free market. In my remarks to both the SEC and in the past to Sen. Sherod Brown I have made sure to call out the actions of certain corrupt actors on wallstreet for exactly what it is: Financial terrorism against squared directly against the united states of america and its people. Make no mistake: Any rule which waves margin in light of bad bets coming due serves no purpose but to enable these criminal assaults on our system. Thank you for your time