May 9, 2024
Reducing margin requirements for those who knew what they were doing was risky yet still took on massive risk, and in some cases broke the law, is not a form of punishment for their poor gambling addictions. Billing others on the other side of abusive short selling practices, instead of rewarding their investments is entirely wrong. The cascade of losses caused by member defaults is entirely their and the fund’s issue. Why are the people who can’t pay for their bets allowed to (indirectly) bill others via the loss of share value?! In what world does it make sense for the fund to not be able to cover defaulting members because they are all so over leveraged?! The OCC is already waiving margin requirements to levels of absolute lunacy, hoping the problem will go away. It hasn’t and it won’t. This needs to stop. As does the oppression of other traders in the other side of these poorly conceived, risky trades. At this point the SEC is enabling the OCC to carry out unbelievable levels of risk and exposing the public to paying the bill, because who else will?! Remember who you serve. Sent from my iPhone