Posted on 02/01/2021 12:15:55 PM PST by SeekAndFind
Too big to fail and too big to jail.
The same double standards we saw from DOJ with Hillary and Trump now extend to the SEC and Wall Street.
Those of us paying attention knew this after the housing bubble burst, but these kids on Reddit just yanked down the pants of hedge funds who immediately ran to the bureaucrats and democrats (and GOPe) for protection because they were on the losing end of the scam they have pulled for decades.
The real threat that the left will prosecute these kids for using the same game against the hedge funds should terrify everyone.
“Melvin Capital, a premier Wall Street hedge fund entangled in the frenzy over GameStop (GME), lost 53% in January, a source familiar with the matter told CNN Business.”
53% is huge.
Speaking of stocks, anyone notice Pelosi violated the Stock act again? Clear cut criminal act of trading on insider information which is now illegal due to the Stock act of 2013 signed into law by B. Hussein Obama. Anybody in the Republican party say anything? Any calls to impeach her?
Exactly. It’s a racket and the kids beat them at their own game so now the kids cant play anymore. This is the same reason why Trump is gone. An outsider beat them at their own game so now he can’t play anymore.
Having owned a couple of businesses I can tell you the people in the trade regardless of the business are a clannish lot. In general the customers, the retail trade are looked down on. Just about any time would get broken to favor “the trade” over some retail stranger. It sounds like rules, customary practices and possibly mass were broken. But these traders are big contributors so, likely prosecutorial discretion will be liberally employed. The little guys will end up with the short straw.
Ally investment sent out a letter of restriction to me too so stay clear of them too.
GME trading @ $230 and heading lower. Those that bought it in the $400-$500 range have lost 50% already in just a day or two. That’s huge.
“GME trading @ $230 and heading lower. Those that bought it in the $400-$500 range have lost 50% already in just a day or two. That’s huge.”
Who bought it in the 400-500 range?
The reddit kiddie charged a foxhole and found a few enemy combatants sleeping and nailed them. Now they think they are a 101st Airborne division. No hedge fund will be found sleeping again.
Interesting analogy...well played
I suspect most of the buyers in that range were hedge funds that were forced to cover their short sales under duress.
Someone needs to investigate how these decisions were made at the DTCC”
Yeah, how ‘bout a name? ANTIFA would have it out there by now if they cared.
“I suspect most of the buyers in that range were hedge funds that were forced to cover their short sales under duress.”
That’s what I figure.
That’s how you lose half your stash in a few days.
Times and sales on Thursday and Friday of last week show lot did.
Can anyone recommend a good trading app that did not prohibit the purchase of gamestop? I looked at the recent reviews on the app store and all of the name brands have horrible reviews because they participated in protecting the hedge funds.
The only thing that baffles me about this is why GME management did not issue a boatload of new stock in to this pump. They could have really cleaned up. Must not have had enough authorized shares available and would not have been able to get the vote done in time to increase those.
Do you mean a broker that has an app?
This would make a great movie. Like a Mission Impossible or Jack Ryan one.
Let’s turn over the clearing house functions over to the government, so every 5th trade gets lost like in the US mail system. Or if you want to make a trade, you have to wait in line like at the DMV.
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