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> I stopped reading when I realized this was a hit piece against Robinhood when they brought up the leverage bug. It wasn't Robinhood's fault, it's not like the

> I stopped reading when I realized this was a hit piece against Robinhood when they brought up the leverage bug. It wasn't Robinhood's fault, it's not like they told the user to do it. IIRC FINRA has regulations explicitly prohibiting this situation. In this situation Robinhood was either negligent in not verifying a trading regulation that explicitly exists, or was incompetent enough to not know about it. While blaming the user may apply in some way here, it is Robinhood's responsibility.

chewz 6y ago
> I stopped reading when I realized this was a hit piece against Robinhood when they brought up the leverage bug. It wasn't Robinhood's fault, it's not like they told the user to do it. It might sound terribly naive these days but financial institutions shouldn't offer their clients products that do not suit clients needs. The caveat emptor rule could only be used in relations to other financial institutions not business or retail clients. After 1997 Asian financial crisis some exporters successfully challenged banks for being sold currency options (fairly simple instruments)...