May 14, 2024
I am a household investor and US citizen. I strongly urge you to stand against the inequality we see in our markets that has favored wall street greed, and the corrupt executives, employees, and politicians that work within the industry - from banking, to market makers, to brokers, to hedgefunds, and investment funds. They have held back our economy for too long, made too much money off of hard working Americans, and then relied on our tax dollars to bail them out (despite these individuals having taken massive personal financial gains). Regarding this rule, if a clearing member defaults on their financial obligations, the OCC, as the central counterparty, has an obligation to the counterparties on the other side of those short sell transactions. The OCC has a fiduciary duty to ensure that counterparties of short selling, such as the shareholders of GME, are protected in the event of defaults by clearing members involved in short selling transactions. THIS is an essential responsibility for upholding the integrity and stability of the options market. Why would they be creating a rule to bail out Wall Street, essentially prolonging the inevitable (and creating a bigger problem for taxpayers to bail out) if they lack the financial capacity to cover their bets? Bets must be covered with proper, transparent risk parameters, and closed if those can not be met, for the sake of our PUBLIC GOOD. Shorts should not be allowed to carry massive HIDDEN LEVERAGE while personally profiting and then getting bailed out by taxpayers. Please represent the people, not the greedy companies that are exploiting the people. Thank you, Dexter Dorer Email: dexterdorer@gmail.com Phone: (305) 606 - 5941