May 9, 2024
To whom it may concern, I support the SEC's decision to reject this proposal. As previously stated in my original comment letter on this proposal I believe that overleveraged firms, funds, banks, etc. are extremely dangerous to the US and World economy. Reducing the margin requirements for these entities is akin to giving a bank robber a secret door to the bank vault. If these entities are not able to meet current margin requirements they are already overleveraged. By further reducing margin requirements the outcome is only further leveraging creating an even bigger problem in the future. The rabid borrowing and lending of cash, shares, and other securities amongst the industry at large is a slippery slope that leads to disaster. The SEC has an obligation to the people of the United States to uphold fair, free markets for all, not just for those at the top. If an everyday household investor was unable to meet margin requirements, they would be liquidated. They would not be given a lifeline through a proposal to reduce their margin requirements. The same should be true for all participants in the market. Otherwise, how can you call it fair or free? -- Shane Buchanan A concerned household investor