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> And what repercussions would they face Nothing worth worrying about. Every single case in the financial sector over the past two decades has resulted in fine

> And what repercussions would they face Nothing worth worrying about. Every single case in the financial sector over the past two decades has resulted in fines that are a fraction of the profits. I mean, you had banks laundering money for cartels, Malasians were looted, etc etc... every single time they fine the culprits a tiny fraction of their profits. The US has made criminal activity profitable, even if you get caught. So Citadel and RH probably just made the smart move. Screw the rules, because the punishment for breaking them will be more than worth it.

captainarab 6y ago
100% agree. Pretty sad to see most of HN willfully ignoring this fact and jumping to the defense of Hedge Funds and the billionaire class.
- deleted 6y ago
  [deleted]
- wyre 6y ago
  Reading HN this whole month has been disheartening after reading so many comments defending the insurrection and Parler.
  - shrimpx 6y ago
    Although you have to see a bit of the irony in the similarity between Trump populists getting deplatformed and Redditors getting blocked from trading.
- dang 6y ago
  That's an inaccurate characterization, as anyone reading these threads can easily see.
- FabHK 6y ago
  FWIW, I think there are no conspiracies here on the side of Robinhood, and the attacks by the revolutionary mob are misguided. Having said that, there is no question that banks ruined the economy during the GFC, and didn't pay enough of a price, and hedge fund managers often make a killing, while paying very little in taxes, and HFT make a killing without providing any social value. But the answer to that is not, I'm afraid, hyping some gaming stock and trying to squeeze a few shorts. The answer is political action - voting, pushing for proper regulation. There are lots of proposals out there: stringent capital requirements for banks; closing the "carried interest" loophole; changing the structure of markets (eg auctions every minute instead of continuous markets).

captainarab 6y ago

100% agree. Pretty sad to see most of HN willfully ignoring this fact and jumping to the defense of Hedge Funds and the billionaire class.

deleted 6y ago
[deleted]
wyre 6y ago
Reading HN this whole month has been disheartening after reading so many comments defending the insurrection and Parler.
- shrimpx 6y ago
  Although you have to see a bit of the irony in the similarity between Trump populists getting deplatformed and Redditors getting blocked from trading.
dang 6y ago
That's an inaccurate characterization, as anyone reading these threads can easily see.
FabHK 6y ago
FWIW, I think there are no conspiracies here on the side of Robinhood, and the attacks by the revolutionary mob are misguided. Having said that, there is no question that banks ruined the economy during the GFC, and didn't pay enough of a price, and hedge fund managers often make a killing, while paying very little in taxes, and HFT make a killing without providing any social value. But the answer to that is not, I'm afraid, hyping some gaming stock and trying to squeeze a few shorts. The answer is political action - voting, pushing for proper regulation. There are lots of proposals out there: stringent capital requirements for banks; closing the "carried interest" loophole; changing the structure of markets (eg auctions every minute instead of continuous markets).