Comment Text:
Dear Chairmen,
This idea to allow vertical integration with knowing the past, going from the bank collusion crash in 1929 to today, is that these banks, institutions, SRO's or for that matter any self proclaimed non-goverment "agency" is an incredible risk to the entire financial world on a global scale due to the amount flowing through the United States.
This new regulatory proposal SHOULD NOT BE IMPLEMENTED in any fashion, and only serves to hamd over more power to clearinghouses, eliminate their competition, and allow them to make more money through poor trade fulfilment and questionable margin requirements or structure, at the expense of additional risk, contagion, and cascading losses that investors and customers will ultimately take the losses for.
Thank you for your attention.
Regards,
International Household Investor
