via trustnodes:
The Securities and Exchanges Commission (SEC) has removed a $1 billion cap on the amount of pension funds that can be tapped by the Options Clearing Corporation (OCC) in case one of its members defaults.
“With respect to OCC’s overall liquidity plan, the Non-Bank Liquidity Facility program reduces the concentration of OCC’s counterparty exposure by diversifying its base of liquidity providers among banks and non-bank, non-Clearing Member institutional investors, such as pension funds or insurance companies,” SEC said.
Ken Griffin Citadel, Doug Cifu Virtu and Jeff Yass Susquhanna have been caught naked shorting US companies and now they can’t get out of the short positions.Clinton employee and SEC chairman Gary Gensler has allowed this.
These grifters have never had jobs and are all related to each other.
From the sec.gov website:
OCC’s current liquidity plan provides it with access to a diverse set of funding sources, including banks (i.e., OCC’s syndicated credit facility), the Non-Bank Liquidity Facility program, and Clearing Members’ Cash Clearing Fund Requirement.
The Non-Bank Liquidity Facility program reduces the concentration of OCC’s counterparty exposure with respect to its overall liquidity plan by diversifying its base of liquidity providers among banks and non-bank, non-Clearing Member institutional investors, such as pension funds or insurance companies.
Reading further:
For example, OCC would only enter into confirmations with an institutional investor that is not a Clearing Member or affiliated bank, such as pension funds or insurance companies, in order to allow OCC to access stable and reliable sources of funding without increasing the concentration of its exposure to counterparties that are affiliated banks, broker/dealers, or futures commission merchants.
In addition, any such institutional investor is obligated to enter repurchase transactions even if OCC experiences a material adverse change, funds must be made available to OCC within 60 minutes of OCC’s delivering eligible securities, and the institutional investor is not permitted to rehypothecate purchased securities.
The taxpayer cash was funneled to Griffin’s firm through the insurance giant AIG, whose high-risk financial trading schemes had failed and put the “too big to fail” corporation on the brink of disaster. As Business Insider reported, Citadel had loaned hundreds of millions of dollars worth of securities to AIG, which used them in its failed “short selling” trades. Without the government bailout, AIG would not have been able to pay Citadel’s loans back, and Griffin’s company would likely have failed as well.”
He is also the ring leader of the naked shorting fraud ring that has been illegally bankrupting US companies they have called MEME STOCKS. These same terrorists bankrupted TOys R US, Radioshack and Circuit City with abusive shorting fraud. They all work together. It’s a terrorist network of hedge funds, banks and SEC, NYSE, Nasdaq execs that are all related to each other. They are making fake shares market wide and diluting all stocks they choose. They have no intention of covering.
They have been exposed and can’t get out of this without going bankrupt. They will use these pensions of firefighters, teachers and police to continue to defraud US companies.
Trump accuses him of hiding money. Anyone else would have gotten letters from Kens lawyers.
AC