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I dunno, if wall street had let the bubble burst, and WSB gets scared off with losses, this all could have gone down as "stupid emotional plebs and their tulips
by Ericson2314 6y ago
I dunno, if wall street had let the bubble burst, and WSB gets scared off with losses, this all could have gone down as "stupid emotional plebs and their tulips". But now that there is definitely lawsuit material, the bigger questions are now firmly part of the narrative and will continue to unfold in the media probably long past the extent of the bubble.
- unityByFreedom 6y agoGood point about keeping the game alive. I can't blame RH for making whatever call is in its best interest to survive. Whatever the outcome is here I hope it's transparent.
- Mymartini 6y agoFor RH to survive? They robbed us blindly this week. They created a buying dip on the backs on panic selling & people lost fortunes. This company is done for.
- joshjdr 6y agoThey probably should have let it proceed. I won’t speculate on the legal matter, but it sounds like a good witch hunt! Really, a few rich targets may likely suffer (...or not, when it is so likely deserved). I’m concerned that many Elanors, who’s teachers’ pension fund & retirement plans, were potentially compromised here. I don’t think pensions belong in hedge funds is the bottom line. (Combining unaccredited investor portfolios might look something like combining subprime loans, but...)
- silexia 6y agoI think it's important to realize that all these knee jerk reactions were shown to be incorrect only 3 days later, but most people will never hear the truth. The truth is that the FTCC increased Robinhood's capital requirements, and they did not have the funds to meet this. Thus they could not allow buy orders legally, although they could allow cell orders because that would reduce their capital requirements.