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Post by Cyno on Jan 28, 2021 16:33:44 GMT -5
Forget class action suits. People who run Robinhood should be going to a jail cell about now.
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Sephiroth
Wade Wilson
Surviving
Posts: 28,961
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Post by Sephiroth on Jan 28, 2021 16:46:36 GMT -5
Or it will just make matters worse. Nobody ever thinks of that. Only because it isn't true. On Wall St ego reigns above all else. These guys never think “Wow, they showed me, I won’t be doing that again.” They think “I’ll get even if it’s the last thing I do!” |
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Dr. T is an alien
Patti Mayonnaise
Knows when to hold them, knows when to fold them
I've been found out!
Posts: 31,366
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Post by Dr. T is an alien on Jan 28, 2021 17:04:15 GMT -5
Oh also, f*** the Mets owner. I mean, that usually goes without saying anyways. |
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Gus Richlen Was Wrong
Patti Mayonnaise
Metal Maestro: Co-winner of the FAN Idol Throwdown!
Fun while it lasted
Posts: 38,519 
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Post by Gus Richlen Was Wrong on Jan 28, 2021 18:15:39 GMT -5
They did nothing wrong. They're not the ones who engineered a major manipulation the likes of which haven't been seen since the Grant Administration |
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Gus Richlen Was Wrong
Patti Mayonnaise
Metal Maestro: Co-winner of the FAN Idol Throwdown!
Fun while it lasted
Posts: 38,519
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Post by Gus Richlen Was Wrong on Jan 28, 2021 18:22:42 GMT -5
Or it will just make matters worse. Nobody ever thinks of that. I am open to hearing how you think that things can get worse than people getting rich by deliberately making people unemployed. Don't get me wrong, no one at the core of this deal is a good person. The vulture capitalists are just the worst but they have been for the longest time. The guy behind this new deal is also not great; as near as I can tell he could be just about as bad as the vulture capitalists but has concluded that the only people that is truly profitable to rip off now are the vulture capitalists. So I'm the only one who thinks the Reddit bullshit is running the risk of getting out of hand quick and igniting another recession a la 2008. Or worse. |
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Post by A Platypus Rave on Jan 28, 2021 18:22:45 GMT -5
it's not market manipulation... it's literally just buying and selling of stocks as usual.
the hedge funds are the ones that didn't do their full diligence as there are ways of preventing a surge like this.
they shorted stocks, and tried to hedge their bets without it.
Someone noticed and people started buying stocks.
That's literally how the stock market works.
They didn't have insider information that something was going to happen, which would be insider trading.
Robin hood did try to manipulate the market by blocking legitimate sales and trades and in some cases allegedly flat out selling peoples stocks back, THAT is market manipulation.
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Post by eJm on Jan 28, 2021 18:25:15 GMT -5
it's not market manipulation... it's literally just buying and selling of stocks as usual. the hedge funds are the ones that didn't do their full diligence as there are ways of preventing a surge like this. they shorted stocks, and tried to hedge their bets without it. Someone noticed and people started buying stocks. That's literally how the stock market works. They didn't have insider information that something was going to happen, which would be insider trading. Robin hood did try to manipulate the market by blocking legitimate sales and trades and in some cases allegedly flat out selling peoples stocks back, THAT is market manipulation. Unless I’m really understanding it wrong, this seems to be the case. Comparing it to 2008 is sort of like comparing going into a store to buy some groceries and going to the store to rob the place. One will get judgmental looks if you’re not the type to buy from there and one is a literal crime. |
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Post by A Platypus Rave on Jan 28, 2021 18:27:24 GMT -5
it's not market manipulation... it's literally just buying and selling of stocks as usual. the hedge funds are the ones that didn't do their full diligence as there are ways of preventing a surge like this. they shorted stocks, and tried to hedge their bets without it. Someone noticed and people started buying stocks. That's literally how the stock market works. They didn't have insider information that something was going to happen, which would be insider trading. Robin hood did try to manipulate the market by blocking legitimate sales and trades and in some cases allegedly flat out selling peoples stocks back, THAT is market manipulation. Unless I’m really understanding it wrong, this seems to be the case. Comparing it to 2008 is sort of like comparing going into a store to buy some groceries and going to the store to rob the place. One will get judgmental looks if you’re not the type to buy from there and one is a literal crime. I mean if you go by the fact that a lot of the collapse on 2008 is based on shorting... the hedge funds are closer to doing what caused the 2008 collapse than the redditors. They are literally killing companies to bleed a few extra dollars out of the stock. And again... the stock market... IS NOT THE ECONOMY. |
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Gus Richlen Was Wrong
Patti Mayonnaise
Metal Maestro: Co-winner of the FAN Idol Throwdown!
Fun while it lasted
Posts: 38,519
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Post by Gus Richlen Was Wrong on Jan 28, 2021 18:28:32 GMT -5
Unless I’m really understanding it wrong, this seems to be the case. Comparing it to 2008 is sort of like comparing going into a store to buy some groceries and going to the store to rob the place. One will get judgmental looks if you’re not the type to buy from there and one is a literal crime. I mean if you go by the fact that a lot of the collapse on 2008 is based on shorting... the hedge funds are closer to doing what caused the 2008 collapse than the redditors. They are literally killing companies to bleed a few extra dollars out of the stock. And again... the stock market... IS NOT THE ECONOMY. Yes it is. When the market suffers, the economy does and vise versa. It's been that way for decades. |
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Post by A Platypus Rave on Jan 28, 2021 18:31:53 GMT -5
I mean if you go by the fact that a lot of the collapse on 2008 is based on shorting... the hedge funds are closer to doing what caused the 2008 collapse than the redditors. They are literally killing companies to bleed a few extra dollars out of the stock. And again... the stock market... IS NOT THE ECONOMY. Yes it is. When the market suffers, the economy does and vise versa. It's been that way for decades. You are absolutely wrong. Due to the pandemic the economy is currently shit people are facing mass evictions and having literally no money to pay any of their bills. the Stock markets have been doing f***ing fantastic. Billionaires have made roughly 1 Trillion dollars due to the stock market since COVID began. AMZN's stock has increased from around $1,900 to $3,200 Since March of last year. THE STOCK MARKET IS NOT THE ECONOMY. |
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Gus Richlen Was Wrong
Patti Mayonnaise
Metal Maestro: Co-winner of the FAN Idol Throwdown!
Fun while it lasted
Posts: 38,519
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Post by Gus Richlen Was Wrong on Jan 28, 2021 18:32:50 GMT -5
Yes it is. When the market suffers, the economy does and vise versa. It's been that way for decades. You are absolutely wrong. Due to the pandemic the economy is currently shit people are facing mass evictions and having literally no money to pay any of their bills. the Stock markets have been doing f***ing fantastic. Billionaires have made roughly 1 Trillion dollars due to the stock market since COVID began. AMZN's stock has increased from around $1,900 to $3,200 Since March of last year. THE STOCK MARKET IS NOT THE ECONOMY. If that were true then the Great Depression should never have happened. |
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Post by A Platypus Rave on Jan 28, 2021 18:40:45 GMT -5
Banks being FDIC insured helps keep something like the great depression from happening before a bank closing meant the money was gone and that is what more f***ed over people in the great depression more than the actual stock market.
not to mention that the stock market from literally almost 100 years ago and the stock market of today are completely different beasts.
I worked in the financial industry in insurance, both of my parents are retired workers in the financial industry, my grandfather was an accountant.
I know what the f*** I'm talking about.
regardless... the fact that stocks are doing great... and a large amount of the population are going to be evicted proves my point better than literally anything else I could say.
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Simon
Tommy Wiseau
Posts: 53
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Post by Simon on Jan 28, 2021 19:07:02 GMT -5
Helpful ELI5: Robinhood acted like a doodyhead to their customers. So everyone is taking their ball and bat and going home. Robinhood does not have anything to continue playing the game, so they asked their credit line to give them more balls and bats.
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Post by Rolent Tex on Jan 28, 2021 19:11:48 GMT -5
Welp...I was thinking about buying some more stocks on Robinhood but I’m glad I waited that one out.
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Mecca
Wade Wilson
Posts: 25,100
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Post by Mecca on Jan 28, 2021 19:22:32 GMT -5
I am open to hearing how you think that things can get worse than people getting rich by deliberately making people unemployed. Don't get me wrong, no one at the core of this deal is a good person. The vulture capitalists are just the worst but they have been for the longest time. The guy behind this new deal is also not great; as near as I can tell he could be just about as bad as the vulture capitalists but has concluded that the only people that is truly profitable to rip off now are the vulture capitalists. So I'm the only one who thinks the Reddit bullshit is running the risk of getting out of hand quick and igniting another recession a la 2008. Or worse. So you're gonna defend fat cat billionaire hedge fund owners that use the stock market like a casino over some regular dudes who figured out how to make some money? All that happened here is rich people are pissed off some poor people figured out how to play the game so of course now they want rules put in place. Class warfare that's all this is. |
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Post by Kevin Hamilton on Jan 28, 2021 19:35:55 GMT -5
f*** those hedge fund vultures. This is hilarious.
They're figuratively dying by the same crooked sword they've wielded for decades.
It also really puts a spotlight on just how imaginary the stock market actually is.
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Post by Tenshigure on Jan 28, 2021 19:52:44 GMT -5
They did nothing wrong. They're not the ones who engineered a major manipulation the likes of which haven't been seen since the Grant Administration Ironic you use those words, considering that Robinhood is the one guilty of breach of fiduciary duty. Hell, this it doesn't even take a genius to figure out why they're attempting to manipulate the market, just last month the SEC fined them for failing to fully disclose selling orders. They are deliberately working against the very customers they claimed to have been designed to work for, and as a result anyone who was trading with Robinhood have (until tomorrow) been blocked from buying anymore shares, but are GLADLY able to sell what they have. The hedge funds got a taste of their own medicine for once, and if they want to cry to the government about it, they need to face regulations not just at the bottom but at the top as well. |
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Gus Richlen Was Wrong
Patti Mayonnaise
Metal Maestro: Co-winner of the FAN Idol Throwdown!
Fun while it lasted
Posts: 38,519
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Post by Gus Richlen Was Wrong on Jan 28, 2021 20:12:26 GMT -5
So I'm the only one who thinks the Reddit bullshit is running the risk of getting out of hand quick and igniting another recession a la 2008. Or worse. So you're gonna defend fat cat billionaire hedge fund owners that use the stock market like a casino over some regular dudes who figured out how to make some money? All that happened here is rich people are pissed off some poor people figured out how to play the game so of course now they want rules put in place. Class warfare that's all this is. No, I'm opposed to another recession or worse happening. That's not a "class warfare" thing. |
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Post by The Summer of Muskrat XVII on Jan 28, 2021 20:16:20 GMT -5
So I'm the only one who thinks the Reddit bullshit is running the risk of getting out of hand quick and igniting another recession a la 2008. Or worse. So you're gonna defend fat cat billionaire hedge fund owners that use the stock market like a casino over some regular dudes who figured out how to make some money? All that happened here is rich people are pissed off some poor people figured out how to play the game so of course now they want rules put in place. Class warfare that's all this is. Except that’s not what this is. This is a handful of pissed off rich dudes using poor folks who don’t understand the market as pawns to stick it to other rich dudes in a carefully planned out revenge scheme. The vast majority of people making serious money here are already wealthy people, they’re just framing it as “us against them” despite the fact that they are “them” |
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Post by A Platypus Rave on Jan 28, 2021 20:22:32 GMT -5
So you're gonna defend fat cat billionaire hedge fund owners that use the stock market like a casino over some regular dudes who figured out how to make some money? All that happened here is rich people are pissed off some poor people figured out how to play the game so of course now they want rules put in place. Class warfare that's all this is. No, I'm opposed to another recession or worse happening. That's not a "class warfare" thing. We are in a recession. We have been since last year, and it's basically the biggest one since the great depression. A worldwide pandemic that shuts literally everything down will do that. However, again if you look at the stock market it doesn't appear that way because the billionaires are making bank off of it. This is probably my last comment in this thread. |
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