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Cartels... It's got Anti-Trust written all over it. Not sure the US will do much though. Jesus, it kind of shows how corrupt the US really is. We're all basica

Cartels... It's got Anti-Trust written all over it. Not sure the US will do much though. Jesus, it kind of shows how corrupt the US really is. We're all basically watching a bunch of people commit crimes that from my quick Google carries a max sentence of 10 years with billons of dollars on the line and we're all pretty sure they're going to get away with it. Though, I do think if Biden makes sure the justice hammer comes down on this, it'll win over a bunch of Trump supporters.

outoftheabyss 6y ago
It was a strong anti trump sentiment that united the democrats but it’s easy to forget that Biden is still met with some caution in his own party as being the establishment candidate, not necessarily a corporate stooge but no Bernie either, it would do more to dispel that within his own party.
- that_guy_iain 6y ago
  Ẃhy would his own party be pissed that he made sure the justice department properly investigated bankers manipulating the market? Honestly, I think this is one of those issues that will unify everyone to a common cause, god damn rich people screwing the little guy.
  - outoftheabyss 6y ago
    Read my comment again.
    - that_guy_iain 6y ago
      Yea. I misread, my bad.
sakopov 6y ago
This. It's been an incredibly eye opening week. From news trumpeting that Melvin Capital closed their short position [1] -- which is questionable at best -- to all major US brokerages preventing retail traders from participating in securities that they shorted. This is so surreal that it almost seems like a conspiracy, but i think in reality it just shows how corrupt the market really is and how much power these hedge funds hold. I'm eager to see the fallout from all of this and if SEC will take action. I didn't know that hedge funds aren't obligated to disclose their short positions on 13f. Maybe, for starters, the SEC could prevent them from hiding their shorts. [1] https://www.reuters.com/article/us-gamestop-melvin-idUSKBN29X0EN https://www.reuters.com/article/us-gamestop-melvin-idUSKBN29...
dragonwriter 6y ago
> Though, I do think if Biden makes sure the justice hammer comes down on this, it'll win over a bunch of Trump supporters. I'm not sure anyone who still can be considered a “Trump supporter” is swayable; on the other hand, if Biden is seen as politicizing prosecutorial decisiones it’ll lose a bunch of Biden supporters. It's also questionable how much influences Biden’s preferences have at Justice since his AG nominee hasn't been confirmed and everyone at levels requiring Senate confirmation there is a Trump carryover (though, to be fair, the Acting AG was appointed from within by Biden and wasn't out of order of seniority, IIRC, so he has exert what influence he can to select leadership given the constraints he faces.)

outoftheabyss 6y ago

It was a strong anti trump sentiment that united the democrats but it’s easy to forget that Biden is still met with some caution in his own party as being the establishment candidate, not necessarily a corporate stooge but no Bernie either, it would do more to dispel that within his own party.

that_guy_iain 6y ago
Ẃhy would his own party be pissed that he made sure the justice department properly investigated bankers manipulating the market? Honestly, I think this is one of those issues that will unify everyone to a common cause, god damn rich people screwing the little guy.
- outoftheabyss 6y ago
  Read my comment again.
  - that_guy_iain 6y ago
    Yea. I misread, my bad.

sakopov 6y ago

This. It's been an incredibly eye opening week. From news trumpeting that Melvin Capital closed their short position [1] -- which is questionable at best -- to all major US brokerages preventing retail traders from participating in securities that they shorted. This is so surreal that it almost seems like a conspiracy, but i think in reality it just shows how corrupt the market really is and how much power these hedge funds hold. I'm eager to see the fallout from all of this and if SEC will take action. I didn't know that hedge funds aren't obligated to disclose their short positions on 13f. Maybe, for starters, the SEC could prevent them from hiding their shorts. [1] https://www.reuters.com/article/us-gamestop-melvin-idUSKBN29X0EN https://www.reuters.com/article/us-gamestop-melvin-idUSKBN29...

dragonwriter 6y ago

> Though, I do think if Biden makes sure the justice hammer comes down on this, it'll win over a bunch of Trump supporters. I'm not sure anyone who still can be considered a “Trump supporter” is swayable; on the other hand, if Biden is seen as politicizing prosecutorial decisiones it’ll lose a bunch of Biden supporters. It's also questionable how much influences Biden’s preferences have at Justice since his AG nominee hasn't been confirmed and everyone at levels requiring Senate confirmation there is a Trump carryover (though, to be fair, the Acting AG was appointed from within by Biden and wasn't out of order of seniority, IIRC, so he has exert what influence he can to select leadership given the constraints he faces.)