4 ms·

This is the "regular people are too dumb to play with the big-boy risk" approach to market access. It seems classist and doesn't really line up with my concept

• yongjik 6y ago
  Regular people are too dumb to play with big risk, including you and me. There's a reason why most countries have a very tight control of gambling places, and that's not because they're classists. When gambling is allowed, the whole society suffers, because there will be a few lucky winners and many who just lost their life savings, and they still have to eat (and their families have to eat) so someone's tax payment is going to pay for them. I agree that it's a problem when "too big to fail" players get away with their shenanigans, but that's a separate problem, and you don't solve that problem by encouraging common folks to gamble away their wealth.
  • totalZero 6y ago
    I've managed my fair share of big-boy risk. I personally believe myself to be qualified. People should be permitted to buy publicly traded corporate assets. Your gambling analogy doesn't apply here. Robinhood saw fit to approve these people for brokerage accounts (and in many cases options trading). They were allowed to walk into the exchange so to speak, up until the point that they found a favorable position that they wanted to keep trading despite elevated volatility. It's not the government's job to tell one class of people that they cannot participate in asset markets, while repeatedly bailing out a totally different class of people that blunders its role in the very same markets.