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> But I think there is a real possibility they did nothing wrong here. They did blatantly lie about their liquidity problems. They didn't mention it in their f
by vincentmarle 6y ago
> But I think there is a real possibility they did nothing wrong here.
They did blatantly lie about their liquidity problems. They didn't mention it in their fluff blog post. Their CEO smirked on national TV and insisted it was not about liquidity. Turns out it was. That's the problem.
- WrtCdEvrydy 6y agoNo sector of the finance industry is ever honest about liquidity... too much fear of a panic.
- lupire 6y agoIB chairman was honest, and WSBers predicably called him a criminal for it. https://www.cnbc.com/2021/01/28/interactive-brokers-restricted-gamestop-trading-to-protect-the-market-says-chairman-peterffy.html https://www.cnbc.com/2021/01/28/interactive-brokers-restrict...
- ashtonkem 6y agoI wouldn’t really take any subreddit on its word about what the law is and who has broken it.
- swalsh 6y agoThe messaging was certainly problematic. But the actions seem to be done in good faith.
- valuearb 6y agoIf he admitted how close they were to insolvency Robinhood would be out of business and no one would be getting their trades closed. Financial firms never warn about liquidity issues to prevent a run on their bank.
- FemmeAndroid 6y agoNot commenting and saying it wasn’t a liquidity event are very different things.