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Post by robeiae on Jan 28, 2021 14:54:34 GMT -5
Confirmation:
They're so screwed.
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Post by Optimus on Jan 28, 2021 18:03:52 GMT -5
Just diggin' that hole deeper, ain't they?
In their frantic race to circle the wagons, the elites seem to be tripping and falling on their faces.
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Post by prozyan on Jan 28, 2021 20:09:58 GMT -5
People have shit for memories and they'll forget about Robinhood as soon as the next shiny thing pops up. Just like they've already forgotten about Robinhood screwing countless users back in the market freefall of March.
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Post by Optimus on Jan 29, 2021 1:44:04 GMT -5
People have shit for memories and they'll forget about Robinhood as soon as the next shiny thing pops up. Just like they've already forgotten about Robinhood screwing countless users back in the market freefall of March. It's not that they simply screwed countless users, they actively engaged in market manipulation. **(there used to be a Tweet here claiming that Citadel purchased some of the available short stock back right before they told Robinhood to halt purchases and drive the price down, but the person who tweeted it got a cease & desist...which suggests he was telling the truth). They not only closed purchases (but only to smaller and individual investors), they forced sales from their individual customers (they'll likely claim they were margin calls) to free up / release shares while setting up the price to tank...seemingly for their hedge owners to try to buy back up and short again to minimize their already huge losses, because hedge funds were conveniently exempt from the purchase stoppages. How this type of shit isn't literally a crime is a damning indictment of how fucked up Wall Street is. It is funny, tho, watching all the rich elites coming together to try to make it sound like they're the real victims and that these unwashed mouthbreather peasants on Reddit were trying to ruin America. I saw a tweet that Robinhood and others shutting down purchases on individual accounts was due in part from pressure from the White House. I haven't seen any credible proof to back that up, but it wouldn't surprise me, and if it's true then people should go after Biden and his team of Wall Street cronies also.
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Post by michaelw on Jan 29, 2021 2:36:07 GMT -5
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Post by robeiae on Jan 29, 2021 7:20:53 GMT -5
Holy shit, that's hilarious. That may be the funniest, cleverest Onion story in 4+ years (Trump ones were funny, but few were clever).
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Post by robeiae on Jan 29, 2021 7:33:00 GMT -5
Anyway, this pretty much captures my sentiments (surpise, surprise): Suck It, Wall Street: In a blowout comedy for the ages, finance pirates take it up the clackerThere's lots of meat in there, going back to 2008. Check this bit: And this: I've got one guy on my twitter feed--an anti-Trump conservative--whining about this, about how everyday people invest in hedge funds too and about how the redditors' moves weren't reality-based, as if motive were somehow a necessary component in making legal stock trades. LOL. Institutional investors--who have all the power--move the market on non-fundamentals all the time. A crowd of individual day traders who basically just went with the flow aren't doing anything illegal and if Wall Street can't survive their actions without breaking its own rules, there's clearly something wrong. And as Taibbi notes, we've known this for a long time, since 2008 at the absolute least. I'd argue that movies like Wall Street and Pretty Woman put the dumbed-down versions of these problems into the public discourse ages ago: To whit: financiers ruin companies--and people's lives--for fun and profit all the damn time. It's accepted as the way things are, right up until the nuts of some of those financiers are in a vise.
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Post by robeiae on Jan 29, 2021 7:51:00 GMT -5
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Post by robeiae on Jan 29, 2021 10:30:20 GMT -5
Absolutely no shame: www.reuters.com/article/us-retail-trading-facebook-idUSKBN29X34PThe problem here is that FB can do this and there's nothing anyone can really do about it. Suing to reinstate the group won't have any immediate impact and suing for money isn't gonna work because there's actual financial concerns in creating a FB group. So FB can lie with impunity and not have to provide any evidence for its claims.
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Post by robeiae on Jan 29, 2021 10:31:51 GMT -5
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Post by Optimus on Jan 29, 2021 11:12:39 GMT -5
This is such a shitshow and truly pulls the curtain back on just how fucked we are and that the financial elites truly are the ones in power. Despite the fact that the stock market is rigged in such a way to allow this type of short trading bullshit to take place, nothing that the redditors did was illegal. The elites are just mad that somebody else beat them at their own game and they're doing everything they can to shut people's legal activity down and prevent this in the future. Can't have regular people prospering, can we? Losses on these short trades have topped $70 billion for these hedge fund fuckers (I have no sympathy for them): www.reuters.com/article/us-retail-trading-shortbets-idUSKBN29X1SWSo, of course they're fighting back now by leveraging their power to, in essence, shut down trading in a targeted way in order to stop the bleeding and recoup some of their losses. Even the WH seems to be on board with them (no surprises there). Google deleted over 100,000 negative reviews of the Robinhood app yesterday: www.theverge.com/2021/1/28/22255245/google-deleting-bad-robinhood-reviews-play-storeDude whose tweet I had in another post claiming that Citadel scooped up some stocks right before ordering Robinhood to halt customer purchases on them (probably to drive the price down so they could short them and stop the bleeding from their losses):
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Post by robeiae on Jan 29, 2021 13:54:38 GMT -5
I hope all the sniveling little shits out there who actually think Google is on there side, when it comes to governme t overreach and the like take note of this. Google is a part of the problem, not a part of the solution. Like Apple, FB, and Amazon, it'll lick the boots of Wall Street firms without a second thought, as long as it knows the peeps in DC will ultimately back it up.
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Post by robeiae on Jan 30, 2021 9:19:23 GMT -5
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Post by robeiae on Jan 30, 2021 13:33:12 GMT -5
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Post by Optimus on Jan 30, 2021 14:19:10 GMT -5
Christ, what a stupid take.
I saw an article that the SEC is considering taking some sort of punitive action for the "abusive" (their words) actions Robinhood and others took against individual traders (i.e., selectively restricting purchases, etc.), but methinks this is likely just tough-talk sabre rattling and they'll likely do nothing at all. If anything does get done, I fully expect it to benefit the hedge fund elites while claiming to be protecting the little guy.
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