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Endorph posted:it made two extremely rich guys lose money and be embarrassed so itll be illegal somehow Attempting to regulate the stock market would cause a lot of even richer people to bring down the goddamn apocalypse.
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Jan 28, 2021 07:40
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Ghost Leviathan posted:Lol that they just literally took away the 'buy stocks' buttons on every single platform They're kinda forced to, if my understanding is correct. To my understanding, Robin Hood probably has a contract with a brokerage about being a fiduciary, meaning they’re legally obligated to protect you from yourself. See last month how Massachusetts regulators filed a complaint that they were exposing investors to unnecessary risks. Now, with the average dumbass who doesn't even know how to buy stocks hearing all about the STONKS memes, a lot of people who don't understand the risk they're getting into are likely to spend a lot of money they really can't afford to which is naturally going to lead to a lot of very angry people looking for someone to blame. It's possible that they're just doing it because they're in with rich people or whatever; But they stand to actually lose a lot of money themselves if they don't save people from their own stupidity. As for why hedge funds can still buy them, I assume it's because they are legally obliged to buy them already.
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Jan 28, 2021 22:34
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K8.0 posted:They are financially tied to a company that has shorted GME to a dangerous extent. They're using the convenient excuse in the hopes that they avoid their just deserts. I don't doubt that, but for every person who says "I knew the risks!" there's 100 people who just heard "free money" and then blow money they can't afford to lose on this. Zaphod42 posted:The "apes stick together" memes are covering up the fact that a bunch of redditors are robbing other redditors. Exactly.
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Jan 29, 2021 22:37
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I'm pretty sure way more people heard "oh poo poo I can make a bunch of money from buying GME. what's GME?" than "I CAN STICK IT TO THE HEDGE FUNDS, MAAAN". Just look on the reddit and discord and stuff and it's pretty obvious pretty fast.
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Feb 4, 2021 00:05
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