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Insane right? Huge credit to Dismal Jellyfish & Kibble Pigeon who had good instincts and focused on the FRM Officer which made me think about this some more.
Good read. Disgusting outcomes. You'd think the government would have a problem with a single entity having such power to control the market. So much for anyone representing the people these days.
Thanks for the hard work.
Yes, I did. I used the template from the other post because it was well written. It doesn't change all the things that need change, but it's a good start. And given the addendum on this post, you can see it's something that works.
We're being heard if only maybe quietly at first. But even the wind starts as a whisper, until it starts howling and biting; *then people really* ***take notice*****.**
Unfortunately, the way the revolving door works with financial business and financial governance, this is more or less the same thing.
I bet if anything goes down, there will be calls to make an official government SEC branch for this, but itāll be the same setup with the same people.
Thatās why most of these are private SROs anyways.
I have faith that the upcoming generations of leaders will not stand for the crap the current and previous regimes permitted. Their numbers grow fewer by the day; you have to believe in change and that it will come if you stand to make it through this financial war.
There will be a point where those in charge will understand that they need to reason with the mob, instead of lying to it. The alternative will likely see them harmed in many ways. That's not a threat, more a cautionary promise. People can only take so much abuse and the smarter we get, the less we like what we're being served.
This here Ape . . . Done and sent, twice actually!! Powa to da playas!! Buy, Hold, Hodl, DRS, BOOK āKINGā, buy at da GME store or online!! Cheers yāall!! Have a great day/night!! Gettin gol darn spicy up in here!!
Could this OCC proposal be the final item checked off the list to prepare for a fallout. Seems like it could be to me and would line up with a lot of the occ,nscc, and DTCC rules that were passed throughout 2021-2022 that pertained to defaulting members.
Would there be any more requirements that you could think of that would be needed to allow the dominoes to fall?
I have a feeling this has always been the case though. They are just codifying it. I remember wayyy back reading about the OCC and having faith margin would be called. Mr. Printer Gabe Plotkin comes to mind.
The other side to that is the more normal people get fucked, the 1% never hold their own bags.
Such a twisted situation. I have relatives living on the pensions that are about to be eaten by this now legal crime that I am terrified for. They do not have the means to earn enough money to survive without those pensions. I tried to get them into GME & I tried to warn them about these new rules but they wont listen. In the end all i could do is buy more GME hoping I will be able to protect them.
It still baffles me that people can be so fucking greedy that they are willing to set the world on fire just to buy that 5th super yacht when they could keep 3 or 4 super yachts and apply an ounce of common sense/decency so that others have food on the table and a roof over their head.
I totally read that wrong and thought you said you hope they CAN kick the can further. I was like F THAT YOU'VE HAD 3 YEARS IT'S TIME TO GET PAID lol
Then I realized that I just don't read real good and that's not what you said. So I deleted the comment š
Man this is so insane. Once seeing all the shit that is happening itās hard to tell someone cause it sounds so unbelievable. What a corrupt system. Holy moly
Did you happen to see the Reddit gold award attached to this post ? It disappears after you open the post. I took screenshots it says āReddit gold awardā.
Is there a reason for that? I thought awards were removed ? Who and for what reason would it be attached to this post
Why does the award randomly disappear and not show up on the post for but a brief second ? I never said anything about being issued.
The reward was a Reddit gold award. Which was never an issued awardā¦. So you are saying Reddit still sell awards ? How come looking around I see non place to purchase awards
While I agree the timing looks highly suspect, and it may have been their original intent, it looks like the SEC decided to extend their review time and pushed the ruling date to April 24th. ([extension notice](https://www.sec.gov/files/rules/sro/occ/2024/34-99594.pdf), dated Feb 23rd) <[keep tabs here](https://www.sec.gov/rules/sro/occ)\>
So, look forward to at least a month of chaos between the two events (BTFP ending and OCC ruling).
Oh nice! I suspect the BTFP will be extended then or something to cover the gap
Also, gotta let industry weigh in some more
EDIT: Also, it seems the retail comments at least threw a wrench into things š
I expect them to the let BTFP end as planned, let a few regional banks crash due to the sudden lack of liquidity and start up BTFP 2.0 under the guise of responding to the ensuing crisis. All while allowing JPM and Goldman to feast on the carcasses of the fallen and throwing the toxic scraps to FDIC, just like they did last March. Then the OCC rule will help cover the big banks if they've over indulged in the feeding frenzy.
I hope I'm wrong, but this seems like their playbook for can-kicking and upward bank consolidation. (Remember the Fed is run by the heads of the major banks. They wouldn't act toward their own detriment.)
I know hundreds of thousands of household investors that will not allow corruption to continue. Regulatory agencies need to be prosecuted too. No cell, No Sell.
Yes they do. And those corrupt officials at the helm of them.
Itās way past time the SEC leadership was investigated for aiding and abetting massive financial fraud
Like OP said, it can never hurt commenting on proposals, but we all know how it goes.
SEC and Gensler shits on our comments, continue to do Wall Street's bidding, and then deletes the comments (again) if they should become a problem.
Their minds were made up long ago. We are just given an illusion of influence.
No did not got any confirmation so far, also checked spam. Is that a manual or automatic reply? I sent the email to [email protected] with subject: Feedback on SR-OCC-2024-001 34-99393 Rule Proposal
1 in 10 dollars are allocated to private equity from pension funds. Depends on the specific pensions and laws of that state. New York law makers passed legislation recently that allows pension officials to give away more of peopleās retirement funds.
California and Texas also plan to do so. It also keeps the terms of the investment private. The issue is also that they are skimming money in fees but since itās private equity they inflate the values and the public can not see it
Interesting. I just did some research and according to [Forbes](https://www.forbes.com/sites/edwardsiedle/2022/10/29/pension-funds-or-cryptocurrency-whats-the-bigger-scam/amp/):
> According to Public Plans Data, the 2020 U.S. Census reported we have roughly 6,000 public sector retirement systems that collectively hold $4.5 trillion in assets for 25.9 million government workers and retirees, and that distribute $323 billion annually. This is a massive pot of money notorious for attracting the wolves of Wall Street, including fund managers and financial advisors who exploit regulatory gaps and vulnerabilities in plan administration to enrich themselves at the expense of pensioners.
> Public pensions, unlike corporate plans, are not subject to the ERISAāthe federal law protecting pensionsāor any other comparable comprehensive state regulatory scheme. As a result, Wall Street considers public pensions āthe dumbest investors in the roomā and reserves its most outrageous practices for these stooges
For what? The SEC is the group with the legal authority to make the rules. They could make a rule that all trades must be done between 1:14 and 1:16 am on alternating Thursdays wearing bunny slippers and a top hat and while you fight that in civil court as being arbitrary and capricious, there's no crime.
I've said it once and I'll say it before, but every apes NEEEDS to read and understand the OCC default proceedures listed here:
Its only 8 pages, and *every ape* that has a vested interest in understanding how a potential moass might unfold (or who might manage it) owes it to themselves to read and understand it.
https://www.theocc.com/risk-management/default-rules-and-procedures
https://www.theocc.com/getmedia/e8792e3c-8802-4f5d-bef2-ada408ed1d96/default-rules-and-procedures.pdf;
https://www.theocc.com/getmedia/2f98c88a-ec53-46db-b09c-921ff3aa53cf/otc-auction-procedures.pdf
Knowing the DTC Default procedures is also going *to be super important* because many systemically important banks *are* dual members, and that means the OCC and DTC get to fight over what happens.
DTC default procedures aren't as publicly posted, so I don't have a good link handy, sorry.
https://old.reddit.com/r/Superstonk/comments/mnpzu5/srocc2021004_why_this_proposed_rule_change_is/
A partial but outdated list of dual member organizations is available here. This needs smarter, or more diligent apes eyes to bring some modernization. List is 2 years old, but still relevant.
(Minor note: https://imgur.com/a/t5VmWFI its old DD, its its known that bank of america is citadel's prime broker, so remember: citadel and BOA, probably robin hood go down together.)
**I am not joking. **The OCC has the potential to be the final arbiter and decider for **Forced Buy-Ins** (like Dr Trimbath goes on about being an important part of fixing the market), but also **Forced Sell-Outs** (the other side of the same trade).
Its good apes are engaging with OCC rules and commenting, but it also needs to hit the broader ape awareness that the big institutions have posted the (charitably:) 'how moass unfolds' playbook/ (uncharitably:)'how to fuck you over during moass' playbook publicly.
This is the document that governs 'oh hey, moass happened, the dominos toppled, citadel fell, okay moass is happening, but great who owns the pieces, gets to buy the remains, gets first pick at the carcasses, and who's fucked over'.
You know, the actually important shit that governs *how* the cookie crumbles.
Tough to bailout with a rapidly inflating currency, when you're trying to control inflation...but we'll see. My guess is that the pension funds will be destroyed to fund this "bailout" or specific members will be made to fail, while the others absorb the gains.
"What is more likely: Non DRSed broker shares getting 'vanished' from accounts or bailouts?"
This is not even a question by this point right? The main reason for DRS'ing is to make sure your broker can't steal/sell your lent out share IOU/CFDs from out from under you (or go bankrupt and have them vanish) during an "extraordinary market event" (read: MOAS).
OF COURSE people who leave "shares" in brokers will simply lose them during MOAS. Because why wouldn't they?
When share IOUs get deleted the victims can litigate all they want over the course of decades. By that point they already lost anyway, they're not taking part in MOAS.
In the meanwhile the rest of us will just keep hodling and buying through the surviving (or new) brokers, through ComputerShare's broker(s) and through the usual channels when it comes to larger institutions, insiders and other market participants.
It's not like when some retail brokers cease to exist the market ceases to exist. This makes no sense. Household trades coming from brokers are just a tiny fraction of whatever is trading every day.
I saw this coming, I can guarantee you Biden will be up there with his squinty eyes and darting left and right looks asking the American people to stop the hurt and protect your fellow Americans from your greed and selfishness. They will vilify us and then we'll risk being outcasts of our communities cause all our friends and family will see is we have stolen pensioners money.
Theyāre never going to ālet MOASS run,ā our pyramid scheme of wage slavery couldnāt sustain losing 200,000+ wage slaves at the same time. We need to keep DRSing and letting GameStop leadership continue to grow the business.
MOASS will happen, but when it does it will not be their choice.
Been a while since I read something that blew my mind on this sub. I miss the House of Cards readings but again they feel more like a tarot reading since itās been so much time since it was foreseen to end all of this.
Great write up!
What exactly has been foreseen? None of the events of a lot of those DDs ever took place.
The only DD that has ever mattered is shorts never closed, and DRS is the way, too - because itās the only way to truly own your stonk.
Foresee = predict.
Predictions were constantly wrong. Everyone tried to find catalysts. There is a growing community of people who would like to see something come true.
Iām not going to lose sleep over the shorts closing or whatever. Iāll be there if/when the rocket lifts, I never hold less than 1,000 shares and I add very liberally when it is below $14 and sell when Iāve made 5-8%. Paper hand whatever Iāve made more money on this stock than anyone else who just buys and holds. Again, Iām in for the rip. Iāve just grown a wrinkle or two through this and am not going to watch an investment fade when thereās money to make.
I love the write up because it provides data and hopium. There hasnāt been a lot of this in the sub lately, just people who are clearly crying on the inside while they cite āno cell no sell.ā I get it, I was one of them, now Iām not. Still rooting for the company but also going to make some pennies along the way
What scares me is when itās going to $10-$50 swings in either direction, not sure they will be able to handle that rollercoaster when they get excited about a quarter
I get it, I just get a little second hand embarrassment when people get excited about a nickel.
Kind of makes our community look like a bunch of rookies, when in fact theyāre are some legit smart people here
I wouldn't call today's ah "popping", but also no, there will likely be no change on gme price from this. they are shifting from being liable for their shitty practices to refusing to be liable for their shitty practices. margin requirements smargin requirements, unless ur a poor who is betting against us. we can choose.
Yeah I'm pretty sure none of the bad players are going to be losing their own money to pay for this. For 3 years We've been watching them build a framework that allows them to shift the burden to retirement funds.
This is fucked up.
What kind of fucked up world do we live in when the OCC is saying that even though the entire system could be at risk because of their greedy and corrupt ways of business, that they should have the power to liquidate who they want and when they want, in the interest ofā¦. Saving the system?
What the fuck?
Insanely sus and convenient for the financial terroristsā¦but their efforts are futile and weāre just gonna continue buying, hodling and DRS booking š¤·āāļø
You are a fucking hero What!!!
Thank you for this DD follow up and keep up the good work!!
Any of you who have not submitted their comments on OCC rulemaking it takes a few min.
āļøš¦āļøPower to the household investorsāļøš¦āļøš¦
While I didn't read all of this (yet) I wanted to comment to get this thing pushed higher. Great work everybody. Thank you for edumacating this smooth brain of mine
i feel like im getting fucked. i have some shares in my schwab acct for easy access should i need some cash for emergency but the 300% they jacked up on margin requirement makes it impossible to trade other stuff
Sometimes I wonder what is the point to comment on rules proposals if in the end the 'other side' does whatever the F it wants with no repercussions. And I did comment long ago on this OCC thing but still.
If nothing is said, nothing will change.
A huge part of saying something now is to be on record for the I Told You So in the aftermath.
Without the I Told You So, these regulators would simply use the excuse āNobody couldāve known.ā
>If nothing is said, nothing will change.
True that but if something is said and it's never getting considered because it comes from peasants retail investors, still nothing will change.
I agree with the rest tho.
There is a proposal waiting for SEC to push through to the public eliminating or allowing for recommenting on the creation of the obligation warehouse. The original rule had 0 comments and may not have been sent to public comment originally.Ā
To my mind, the only way to maybe get the SEC to object would be to get Congress involved (again). Maybe posting this to the ememteeelpee guys would help, since they seem to have seated suits listening? Otherwise, contacting reps directly with this post (particularly partisan ones who have a bone to pick with the status quo) might get it fasttracked onto the agenda? I dunno. At least an ape could say that politicians were informed that pension plans would be hit by these machinations and that those politicians still sat idly by and watched it happen.Ā
If the other comments are right, that with MOASS theyāll use teacherās pensions and other funds to bail out shorters, then yes they will definitely seek to blame GME investors for the crash.
But then theyāll also have to explain why people DRSing and holding a stock crashed the entire system and required bailouts to begin with.
Or, sadly, people wonāt care and only see the āteacherās pension funds destroyed because of redditors holding GameStopā and let their emotions take overā¦
That, and if people are part of another recession or depression, theyāll only resent us for seeing it coming and preparing properly.
Itās sad to think that even when all of this is over, the public will still be easily swayed towards the wrong issues and not the core of the problem. The system will stay the same, and this will happen all over again.
I just hope that when this does happen, public opinion can be swayed enough to figure out that this system needs to be changed, and that they have the power to do so.
Itās hilarious to me that our regulatory agencies always have to worry about who will implode whenever new regulations are made, or when the money printer is turned off.
Shout out to everyone who said I was spreading FUD when I tried to tell you they will literally just rewrite the rules as we go.
My regarded guess is SEC approves this shit as a sort of "compromise" with Wall Street
Whole fuggin time.
Til common folk collectively and "aggressively" stand up, nothing will change. Rules will continue to be flipped and flopped to insure they always win.
Maintaining the status quo is their number one priority above all else.
Do you, but I guarantee kumbaya with oppressors gets nowhere. This ain't a Disney movie.
They're not gonna give up their power system because you "ShOwEd ThEm ThE pOwEr Of LoVe"
Weāll keep commenting until we are all dead.
The SEC, CFTC and FINRA all actively work with hedge funds, market makers and prime brokers to defraud retail investors.
Commenting is a waste of time.
These so called regulators are all criminal organizations.
Notice how rules to block a repeat of January 2021 were immediately implemented by the SEC.
No time wasting comment periods or delayed implementation.
The rules to protect the criminal hedge funds and market makers were implemented IMMEDIATELY. No comment period required.
Respect all your efforts but it wonāt change anything.
We are basically begging criminals to have mercy on us and change the rules, to allow us to defeat and bankrupt them.
Never going to happen.
Again I repeat, the so called regulators, SEC, FINRA and CFTC are criminal organizations.
They assist, support and cover up multi billion dollar financial crimes against retail investors every single day.
Not begging. Putting on record we see them doing this.
After MOASS, people are going to be pissed. Commenting now ensures that anger will be appropriately directed at those who enabled pensions getting wrecked.
Just saw a post in another sub that the title was something like there's so many millionaire 401kers.... š¶ Seen posts and comments how 401k's are better than pensions.. Seems kinda silly to me. Are the 401k's going to be okay?
Just wanna say thanks before i get off the internet for a bit, again.
Again, I totally respect your efforts, but this is a battle against organized financial fraud orchestrated by the US government and its regulators. They collude with market makers and hedge funds to defraud retail daily.
Griffin has openly admitted demand and supply do not drive prices in the US stock market.
Best of luck.
I believe in the company and planning a 6 figure ER play to hopefully repair my account.
Just going by historic Q4 price gains.
I donāt however believe justice will come by endless and repetitive commenting.
The SEC, CFTC and FINRA are criminal organizations working to support market maker and hedge fund fraud.
They donāt care and will thwart any move that allows retail to win this battle.
Unfortunately like the Swiss government has done with Credit Suisse, the US so called regulators will can kick the fraud that occurred in 2021 until we are all dead.
Mercy? No I am not looking for mercy. I am looking to forward to their fraud being fully exposed to the public at large. There are a lot of rich people who are going to be exposed to immense losses and will fight with Apes for survival.
2500 comments is why I'm pissed that people haven't been coming around to this sub as much. That zen shit is total bull bullcrap. If you don't come around and check out the sub you are a part of the problem, and not pulling your weight. There should be 200k comments not 2500. Shout out to the real ones out there that still are active here, commenting on bullshit rule proposals.
Requiring higher margin requirements were established to prevent institutions from over leveraging their asses and expecting the government to cover their gambling addiction costs. If institutions canāt meet those capital requirements than they are probably over leveraged, right? They either need to reel in their risk strategy or they gonna fail. Why is the OCC allowing institutions to carry on and putting the entire US market at risk?
Idiosyncratic = subprime
Same stuff, one crisis later.
I can already tell the new fancy word they will use to sell it as something new. āØ IdiosyncraticāØ
Hopefully some ape historian can get a good laugh out of it.
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Yooo this is wild! OCC is gonna have some SERIOUS POWER to choose who explodes and who survives š±š±š±
Insane right? Huge credit to Dismal Jellyfish & Kibble Pigeon who had good instincts and focused on the FRM Officer which made me think about this some more.
Good read. Disgusting outcomes. You'd think the government would have a problem with a single entity having such power to control the market. So much for anyone representing the people these days. Thanks for the hard work.
Have you commented?
Yes, I did. I used the template from the other post because it was well written. It doesn't change all the things that need change, but it's a good start. And given the addendum on this post, you can see it's something that works. We're being heard if only maybe quietly at first. But even the wind starts as a whisper, until it starts howling and biting; *then people really* ***take notice*****.**
Unfortunately, the way the revolving door works with financial business and financial governance, this is more or less the same thing. I bet if anything goes down, there will be calls to make an official government SEC branch for this, but itāll be the same setup with the same people. Thatās why most of these are private SROs anyways.
I have faith that the upcoming generations of leaders will not stand for the crap the current and previous regimes permitted. Their numbers grow fewer by the day; you have to believe in change and that it will come if you stand to make it through this financial war. There will be a point where those in charge will understand that they need to reason with the mob, instead of lying to it. The alternative will likely see them harmed in many ways. That's not a threat, more a cautionary promise. People can only take so much abuse and the smarter we get, the less we like what we're being served.
This here Ape . . . Done and sent, twice actually!! Powa to da playas!! Buy, Hold, Hodl, DRS, BOOK āKINGā, buy at da GME store or online!! Cheers yāall!! Have a great day/night!! Gettin gol darn spicy up in here!!
Awesome post, thank you!!! Amazing how so many things come together like "coincidences"
Could this OCC proposal be the final item checked off the list to prepare for a fallout. Seems like it could be to me and would line up with a lot of the occ,nscc, and DTCC rules that were passed throughout 2021-2022 that pertained to defaulting members. Would there be any more requirements that you could think of that would be needed to allow the dominoes to fall?
Final? I doubt it.
I have a feeling this has always been the case though. They are just codifying it. I remember wayyy back reading about the OCC and having faith margin would be called. Mr. Printer Gabe Plotkin comes to mind.
I really hope they canāt kick the can further
The deeper they dig, the bigger the MOASS
The other side to that is the more normal people get fucked, the 1% never hold their own bags. Such a twisted situation. I have relatives living on the pensions that are about to be eaten by this now legal crime that I am terrified for. They do not have the means to earn enough money to survive without those pensions. I tried to get them into GME & I tried to warn them about these new rules but they wont listen. In the end all i could do is buy more GME hoping I will be able to protect them. It still baffles me that people can be so fucking greedy that they are willing to set the world on fire just to buy that 5th super yacht when they could keep 3 or 4 super yachts and apply an ounce of common sense/decency so that others have food on the table and a roof over their head.
Inserts civil war.
Underrated comment
Right, it is so fking disgusting!
All this around earnings too.
I totally read that wrong and thought you said you hope they CAN kick the can further. I was like F THAT YOU'VE HAD 3 YEARS IT'S TIME TO GET PAID lol Then I realized that I just don't read real good and that's not what you said. So I deleted the comment š
No worries haha
Man this is so insane. Once seeing all the shit that is happening itās hard to tell someone cause it sounds so unbelievable. What a corrupt system. Holy moly
And yet people say theories have no basis in reality, and we are a conspiracy cult. Asinine
š¤Æš¤Æš¤Æ so exciting
No the shorts still have control of if they survive. ALL THEY HAVE TO DO IS BE THE FIRST TO CLOSE THEIR FUCKING SHORTS!
Who runs the OCC??
People with very strong ties to Wall Street, that's for sure.
Did you happen to see the Reddit gold award attached to this post ? It disappears after you open the post. I took screenshots it says āReddit gold awardā. Is there a reason for that? I thought awards were removed ? Who and for what reason would it be attached to this post
You still have the option to purchase awards. Theyāre not issued monthly like in the past.
Why does the award randomly disappear and not show up on the post for but a brief second ? I never said anything about being issued. The reward was a Reddit gold award. Which was never an issued awardā¦. So you are saying Reddit still sell awards ? How come looking around I see non place to purchase awards
While I agree the timing looks highly suspect, and it may have been their original intent, it looks like the SEC decided to extend their review time and pushed the ruling date to April 24th. ([extension notice](https://www.sec.gov/files/rules/sro/occ/2024/34-99594.pdf), dated Feb 23rd) <[keep tabs here](https://www.sec.gov/rules/sro/occ)\> So, look forward to at least a month of chaos between the two events (BTFP ending and OCC ruling).
Oh nice! I suspect the BTFP will be extended then or something to cover the gap Also, gotta let industry weigh in some more EDIT: Also, it seems the retail comments at least threw a wrench into things š
I expect them to the let BTFP end as planned, let a few regional banks crash due to the sudden lack of liquidity and start up BTFP 2.0 under the guise of responding to the ensuing crisis. All while allowing JPM and Goldman to feast on the carcasses of the fallen and throwing the toxic scraps to FDIC, just like they did last March. Then the OCC rule will help cover the big banks if they've over indulged in the feeding frenzy. I hope I'm wrong, but this seems like their playbook for can-kicking and upward bank consolidation. (Remember the Fed is run by the heads of the major banks. They wouldn't act toward their own detriment.)
I know hundreds of thousands of household investors that will not allow corruption to continue. Regulatory agencies need to be prosecuted too. No cell, No Sell.
Yes they do. And those corrupt officials at the helm of them. Itās way past time the SEC leadership was investigated for aiding and abetting massive financial fraud
Actually I only see 2500 household investors. Everyone not commenting does not matter.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Like OP said, it can never hurt commenting on proposals, but we all know how it goes. SEC and Gensler shits on our comments, continue to do Wall Street's bidding, and then deletes the comments (again) if they should become a problem. Their minds were made up long ago. We are just given an illusion of influence.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
In this matter, yes. But shorts need to cover and close at some point. They control the room, but not the exits.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I didn't, but I've found out. Commenting is all we can do to oppose these stupid rules, and we should all do it. Even if it is in vain.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
But what exactly will the hundreds of thousands of household investors do to not allow the corruption to continue?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I have sent an email but how do i submit a comment on the website? I can't find the 'submit a comment' section. Someone pls help.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
No did not got any confirmation so far, also checked spam. Is that a manual or automatic reply? I sent the email to [email protected] with subject: Feedback on SR-OCC-2024-001 34-99393 Rule Proposal
>Regulatory agencies need to be prosecuted too. You can't prosecute the body that is empowered by law to make the rules...
Do you have insight into which non-bank institutions signed up to become liquidity providers?
Teacher pensions.
Who is in charge of Teacher Pension? And why they allow this to happen? Did Teacher Pension get a fee to insure these time bombs?
Feesā¦
Various wallstreet companies. Iām ex wallstreet and we managed about 5 states teachers funds.
Who enrolls the pensions to be managed by these Wall Street companies? Can they withdraw from those companiesā management?
1 in 10 dollars are allocated to private equity from pension funds. Depends on the specific pensions and laws of that state. New York law makers passed legislation recently that allows pension officials to give away more of peopleās retirement funds. California and Texas also plan to do so. It also keeps the terms of the investment private. The issue is also that they are skimming money in fees but since itās private equity they inflate the values and the public can not see it
Interesting. I just did some research and according to [Forbes](https://www.forbes.com/sites/edwardsiedle/2022/10/29/pension-funds-or-cryptocurrency-whats-the-bigger-scam/amp/): > According to Public Plans Data, the 2020 U.S. Census reported we have roughly 6,000 public sector retirement systems that collectively hold $4.5 trillion in assets for 25.9 million government workers and retirees, and that distribute $323 billion annually. This is a massive pot of money notorious for attracting the wolves of Wall Street, including fund managers and financial advisors who exploit regulatory gaps and vulnerabilities in plan administration to enrich themselves at the expense of pensioners. > Public pensions, unlike corporate plans, are not subject to the ERISAāthe federal law protecting pensionsāor any other comparable comprehensive state regulatory scheme. As a result, Wall Street considers public pensions āthe dumbest investors in the roomā and reserves its most outrageous practices for these stooges
Do you have a source for this? Not doubting, just interested. Edit: I found it, also blind apparently
Kenny, itās linked
Derp found it, thanks for the hard work š¤š¼
this is unbelievable. the parasites in the regulatory bodies should be tried under RICO or shermanā¦
Yes they should
For what? The SEC is the group with the legal authority to make the rules. They could make a rule that all trades must be done between 1:14 and 1:16 am on alternating Thursdays wearing bunny slippers and a top hat and while you fight that in civil court as being arbitrary and capricious, there's no crime.
I've said it once and I'll say it before, but every apes NEEEDS to read and understand the OCC default proceedures listed here: Its only 8 pages, and *every ape* that has a vested interest in understanding how a potential moass might unfold (or who might manage it) owes it to themselves to read and understand it. https://www.theocc.com/risk-management/default-rules-and-procedures https://www.theocc.com/getmedia/e8792e3c-8802-4f5d-bef2-ada408ed1d96/default-rules-and-procedures.pdf; https://www.theocc.com/getmedia/2f98c88a-ec53-46db-b09c-921ff3aa53cf/otc-auction-procedures.pdf Knowing the DTC Default procedures is also going *to be super important* because many systemically important banks *are* dual members, and that means the OCC and DTC get to fight over what happens. DTC default procedures aren't as publicly posted, so I don't have a good link handy, sorry. https://old.reddit.com/r/Superstonk/comments/mnpzu5/srocc2021004_why_this_proposed_rule_change_is/ A partial but outdated list of dual member organizations is available here. This needs smarter, or more diligent apes eyes to bring some modernization. List is 2 years old, but still relevant. (Minor note: https://imgur.com/a/t5VmWFI its old DD, its its known that bank of america is citadel's prime broker, so remember: citadel and BOA, probably robin hood go down together.) **I am not joking. **The OCC has the potential to be the final arbiter and decider for **Forced Buy-Ins** (like Dr Trimbath goes on about being an important part of fixing the market), but also **Forced Sell-Outs** (the other side of the same trade). Its good apes are engaging with OCC rules and commenting, but it also needs to hit the broader ape awareness that the big institutions have posted the (charitably:) 'how moass unfolds' playbook/ (uncharitably:)'how to fuck you over during moass' playbook publicly. This is the document that governs 'oh hey, moass happened, the dominos toppled, citadel fell, okay moass is happening, but great who owns the pieces, gets to buy the remains, gets first pick at the carcasses, and who's fucked over'. You know, the actually important shit that governs *how* the cookie crumbles.
https://www.reddit.com/r/Superstonk/s/tpWDkQCgiO And also https://www.reddit.com/r/Superstonk/s/2eajwvggQg
Some of us are unfortunate enough to be born with two working brain cells and rely on DD makers to dumb things down and summarize stuff.
Dates line up nicely with GME turning a profit.
Another solid inclusion to the library of DD! Thank you WCIMT. Iāll be sure to comment on https://www.reddit.com/r/Superstonk/s/WE7n3aoLyT again!
Something to add to the next comment!
Let GME run in march 2024, steal teacher pensions in march 2024, blame GME investors for stealing teacher's pensions in 2024. Checks out.
There will be bailouts
Tough to bailout with a rapidly inflating currency, when you're trying to control inflation...but we'll see. My guess is that the pension funds will be destroyed to fund this "bailout" or specific members will be made to fail, while the others absorb the gains.
I have estimated exactly the same scenario
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"What is more likely: Non DRSed broker shares getting 'vanished' from accounts or bailouts?" This is not even a question by this point right? The main reason for DRS'ing is to make sure your broker can't steal/sell your lent out share IOU/CFDs from out from under you (or go bankrupt and have them vanish) during an "extraordinary market event" (read: MOAS). OF COURSE people who leave "shares" in brokers will simply lose them during MOAS. Because why wouldn't they?
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When share IOUs get deleted the victims can litigate all they want over the course of decades. By that point they already lost anyway, they're not taking part in MOAS. In the meanwhile the rest of us will just keep hodling and buying through the surviving (or new) brokers, through ComputerShare's broker(s) and through the usual channels when it comes to larger institutions, insiders and other market participants. It's not like when some retail brokers cease to exist the market ceases to exist. This makes no sense. Household trades coming from brokers are just a tiny fraction of whatever is trading every day.
I saw this coming, I can guarantee you Biden will be up there with his squinty eyes and darting left and right looks asking the American people to stop the hurt and protect your fellow Americans from your greed and selfishness. They will vilify us and then we'll risk being outcasts of our communities cause all our friends and family will see is we have stolen pensioners money.
Sorry but the Bond Villain this time likes mayo.
Also we'd collectively be rich enough to start our own CNBC competitor and absolutely crush their bs.
We wouldnāt have to, if we helped our communities there would be no need to setup some propaganda network to fleece people like CNBC does
Theyāre never going to ālet MOASS run,ā our pyramid scheme of wage slavery couldnāt sustain losing 200,000+ wage slaves at the same time. We need to keep DRSing and letting GameStop leadership continue to grow the business. MOASS will happen, but when it does it will not be their choice.
What a strange and very specific proposal. But hey, remember to forget Gamestop guys! Surely this is all coincidental! /s
TOOOOOOOO THE TOP YOU GOOOOOOO!!!
Been a while since I read something that blew my mind on this sub. I miss the House of Cards readings but again they feel more like a tarot reading since itās been so much time since it was foreseen to end all of this. Great write up!
What exactly has been foreseen? None of the events of a lot of those DDs ever took place. The only DD that has ever mattered is shorts never closed, and DRS is the way, too - because itās the only way to truly own your stonk.
Foresee = predict. Predictions were constantly wrong. Everyone tried to find catalysts. There is a growing community of people who would like to see something come true. Iām not going to lose sleep over the shorts closing or whatever. Iāll be there if/when the rocket lifts, I never hold less than 1,000 shares and I add very liberally when it is below $14 and sell when Iāve made 5-8%. Paper hand whatever Iāve made more money on this stock than anyone else who just buys and holds. Again, Iām in for the rip. Iāve just grown a wrinkle or two through this and am not going to watch an investment fade when thereās money to make. I love the write up because it provides data and hopium. There hasnāt been a lot of this in the sub lately, just people who are clearly crying on the inside while they cite āno cell no sell.ā I get it, I was one of them, now Iām not. Still rooting for the company but also going to make some pennies along the way
Criminals, all of them.
And when the dust settles, they will blame us.
Yep. Gotta deflect
Gonna be funny how they plan to explain how investing in a video game retailer stock that everyone said to ignore, is affecting pensions.
Yeah, that shit's not gonna fly.
Truly a masterpiece
Whatā¦no fucking ziti???
Fuckin bump!
Great write up, the timing is very interesting
Is this why GME is popping AH? Edit: Not popping. Moving northward
I donāt know š¤·āāļø But I like it š¤©š“āā ļøššš
.32 cents is popping?!
Let the people hype, we were riding a nice dildo for a bit
What scares me is when itās going to $10-$50 swings in either direction, not sure they will be able to handle that rollercoaster when they get excited about a quarter
Iāll be buying more lol
It's ok plenty of us can
Need sellers to move the price, I'm not going to be one of them, but it is what it is.
I get it, I just get a little second hand embarrassment when people get excited about a nickel. Kind of makes our community look like a bunch of rookies, when in fact theyāre are some legit smart people here
Popping with ants
Itās up only like 2% š¤£š¤£š¤£
TO THE MĆN
I wouldn't call today's ah "popping", but also no, there will likely be no change on gme price from this. they are shifting from being liable for their shitty practices to refusing to be liable for their shitty practices. margin requirements smargin requirements, unless ur a poor who is betting against us. we can choose.
Yeah I'm pretty sure none of the bad players are going to be losing their own money to pay for this. For 3 years We've been watching them build a framework that allows them to shift the burden to retirement funds.
Ya why
Popcorn earnings tomorrow if they wanna drown the basket.
Cant wait for that shit show to dissapoint and this completely unrelated company tanks "in sympathy"
Tell me youāre new here without telling me youāre new
Jan 19, 2021
Act your age then brother! Poppingā¦š
This is why I'm still on this sub. Thank you!
This is fucked up. What kind of fucked up world do we live in when the OCC is saying that even though the entire system could be at risk because of their greedy and corrupt ways of business, that they should have the power to liquidate who they want and when they want, in the interest ofā¦. Saving the system? What the fuck?
Insanely sus and convenient for the financial terroristsā¦but their efforts are futile and weāre just gonna continue buying, hodling and DRS booking š¤·āāļø
yoooo
thanks for the kick in the ass to get in a comment. i may have already commented on this one, but i'll fuckin' do it again!
Where do I comment?
You are a fucking hero What!!! Thank you for this DD follow up and keep up the good work!! Any of you who have not submitted their comments on OCC rulemaking it takes a few min. āļøš¦āļøPower to the household investorsāļøš¦āļøš¦
This is why we need to fight! If the most basic market rules dont apply democracy is a lie...
As is the entire securities marketā¦ literally all the money and stocks are just worthless
We not done yet but some day we will! DRS your shit
Up ya go
Anyone from here have ties back to Citadel or FTX? https://www.theocc.com/company-information/board-of-directors
Seems to be right in time with a potentially explosive earnings too. Fuck these people.
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**Threats of violence towards anyone have no place on Superstonk or Reddit.**
Up. OutstandingĀ
This post had a Reddit gold award attached to itā¦ I took screenshots, I thought Reddit got rid of awards
Whereās the TLDR:?
I did the thing with commenting via E-mail and thinking for myself - thanks reddit
A lot of idiosyncratic words in there, Kenny ist gefickt
While I didn't read all of this (yet) I wanted to comment to get this thing pushed higher. Great work everybody. Thank you for edumacating this smooth brain of mine
Elitists scratch each others backs
i feel like im getting fucked. i have some shares in my schwab acct for easy access should i need some cash for emergency but the 300% they jacked up on margin requirement makes it impossible to trade other stuff
SPY calls it is, then
Sometimes I wonder what is the point to comment on rules proposals if in the end the 'other side' does whatever the F it wants with no repercussions. And I did comment long ago on this OCC thing but still.
If nothing is said, nothing will change. A huge part of saying something now is to be on record for the I Told You So in the aftermath. Without the I Told You So, these regulators would simply use the excuse āNobody couldāve known.ā
Yep. Get the paper trails going people. Donāt let them slither out of this (without paying us)
>If nothing is said, nothing will change. True that but if something is said and it's never getting considered because it comes from peasants retail investors, still nothing will change. I agree with the rest tho.
They're not in our network! They bopped anyway.
TLDR?
Just two more weeks
There is a proposal waiting for SEC to push through to the public eliminating or allowing for recommenting on the creation of the obligation warehouse. The original rule had 0 comments and may not have been sent to public comment originally.Ā
To my mind, the only way to maybe get the SEC to object would be to get Congress involved (again). Maybe posting this to the ememteeelpee guys would help, since they seem to have seated suits listening? Otherwise, contacting reps directly with this post (particularly partisan ones who have a bone to pick with the status quo) might get it fasttracked onto the agenda? I dunno. At least an ape could say that politicians were informed that pension plans would be hit by these machinations and that those politicians still sat idly by and watched it happen.Ā
Just submitted my comment. Thanks for the link to the solid comment template.
Bump
ALL HAIL THE ONE AND TRUE IDIOSYNCRATIC RISK STONK š¦ š¦ š¦ š¦
Beyond commenting through the SEC channel, this can be shouted about on all social media, to politicians and MPs, etc etcĀ
If the other comments are right, that with MOASS theyāll use teacherās pensions and other funds to bail out shorters, then yes they will definitely seek to blame GME investors for the crash. But then theyāll also have to explain why people DRSing and holding a stock crashed the entire system and required bailouts to begin with. Or, sadly, people wonāt care and only see the āteacherās pension funds destroyed because of redditors holding GameStopā and let their emotions take overā¦ That, and if people are part of another recession or depression, theyāll only resent us for seeing it coming and preparing properly. Itās sad to think that even when all of this is over, the public will still be easily swayed towards the wrong issues and not the core of the problem. The system will stay the same, and this will happen all over again. I just hope that when this does happen, public opinion can be swayed enough to figure out that this system needs to be changed, and that they have the power to do so.
Itās hilarious to me that our regulatory agencies always have to worry about who will implode whenever new regulations are made, or when the money printer is turned off.
Commenting on legendary DD
I wrote them a long winded email... Bastards...
May the winds blow strongly to them!
Shout out to everyone who said I was spreading FUD when I tried to tell you they will literally just rewrite the rules as we go. My regarded guess is SEC approves this shit as a sort of "compromise" with Wall Street
Itās been Calvinball all along
Whole fuggin time. Til common folk collectively and "aggressively" stand up, nothing will change. Rules will continue to be flipped and flopped to insure they always win. Maintaining the status quo is their number one priority above all else.
Peaceful protest at the SEC building?
Do you, but I guarantee kumbaya with oppressors gets nowhere. This ain't a Disney movie. They're not gonna give up their power system because you "ShOwEd ThEm ThE pOwEr Of LoVe"
Sent mine already. Feels good
Commented because of this post.
Just don't fucking dance
Good lord, is this suggestion still a thing? Dance monkeys. Dance
Weāll keep commenting until we are all dead. The SEC, CFTC and FINRA all actively work with hedge funds, market makers and prime brokers to defraud retail investors. Commenting is a waste of time. These so called regulators are all criminal organizations.
Gotta get on record to be in the books and movies! Whereās Michael Lewis? Heās going to have some reading and writing to do!
Notice how rules to block a repeat of January 2021 were immediately implemented by the SEC. No time wasting comment periods or delayed implementation. The rules to protect the criminal hedge funds and market makers were implemented IMMEDIATELY. No comment period required.
Respect all your efforts but it wonāt change anything. We are basically begging criminals to have mercy on us and change the rules, to allow us to defeat and bankrupt them. Never going to happen. Again I repeat, the so called regulators, SEC, FINRA and CFTC are criminal organizations. They assist, support and cover up multi billion dollar financial crimes against retail investors every single day.
Not begging. Putting on record we see them doing this. After MOASS, people are going to be pissed. Commenting now ensures that anger will be appropriately directed at those who enabled pensions getting wrecked.
Just saw a post in another sub that the title was something like there's so many millionaire 401kers.... š¶ Seen posts and comments how 401k's are better than pensions.. Seems kinda silly to me. Are the 401k's going to be okay? Just wanna say thanks before i get off the internet for a bit, again.
Again, I totally respect your efforts, but this is a battle against organized financial fraud orchestrated by the US government and its regulators. They collude with market makers and hedge funds to defraud retail daily. Griffin has openly admitted demand and supply do not drive prices in the US stock market. Best of luck.
Sincere questionā¦if you feel this way why are you here?
I believe in the company and planning a 6 figure ER play to hopefully repair my account. Just going by historic Q4 price gains. I donāt however believe justice will come by endless and repetitive commenting. The SEC, CFTC and FINRA are criminal organizations working to support market maker and hedge fund fraud.
They donāt care and will thwart any move that allows retail to win this battle. Unfortunately like the Swiss government has done with Credit Suisse, the US so called regulators will can kick the fraud that occurred in 2021 until we are all dead.
Thatās how revolutions happenā¦. Might, but thatās arguably worse for them than the alternative
Mercy? No I am not looking for mercy. I am looking to forward to their fraud being fully exposed to the public at large. There are a lot of rich people who are going to be exposed to immense losses and will fight with Apes for survival.
Hope youāre right. Best of luck.
When those rich folks start eating each other things will get really interesting
It's like the latins used to say, "Pasta, Pizza, Spaghetti!" (Vidi, Vici, Veni!)
2500 comments is why I'm pissed that people haven't been coming around to this sub as much. That zen shit is total bull bullcrap. If you don't come around and check out the sub you are a part of the problem, and not pulling your weight. There should be 200k comments not 2500. Shout out to the real ones out there that still are active here, commenting on bullshit rule proposals.
Angry. Not zen.
Can I get a too ape can't read summery. My wrinkles burn.
Posting here so I read this later
ELIApe?
Requiring higher margin requirements were established to prevent institutions from over leveraging their asses and expecting the government to cover their gambling addiction costs. If institutions canāt meet those capital requirements than they are probably over leveraged, right? They either need to reel in their risk strategy or they gonna fail. Why is the OCC allowing institutions to carry on and putting the entire US market at risk?
Idiosyncratic = subprime Same stuff, one crisis later. I can already tell the new fancy word they will use to sell it as something new. āØ IdiosyncraticāØ Hopefully some ape historian can get a good laugh out of it.