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Robinhood’s chief legal counsel is a former SEC chairman. There’s no way they didn’t realize what they are doing.
by throwawayfrauds 6y ago
Robinhood’s chief legal counsel is a former SEC chairman. There’s no way they didn’t realize what they are doing.
- ogre_codes 6y agoAre you genuinely surprised that a grey haired lawyer might get caught flat footed by the shenanigans of an out-of-control Reddit channel? Don't get me wrong, there are definitely people in the 65+ club who understand tech. But frequently older people don't, even older people who were near tech. And in particular many of them don't get communities like Reddit. I don't think a lot of people could have predicted that tens of thousands of retail investors would flash mob an out of favor stock to bust a hedge fund's short position. The chances that a 65 year old lawyer would see that coming? Seems pretty unlikely.