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If this was the case, why not just provide an honest explanation rather than “we’re restricting this for your own good”
by TuringNYC 6y ago
If this was the case, why not just provide an honest explanation rather than “we’re restricting this for your own good”
- dash2 6y agoNo company likes to say "our clearinghouse doesn't trust us to settle our accounts". It makes them look unstable... as they probably are. I bet you, RH has been handing out margin the same way mortgage sellers handed out loans in 2007.
- CivBase 6y agoIf they're not willing to be honest with their customers, I'm not willing to sympathize with them when their lies result in conspiracy theories. They made their bed.
- dash2 6y agoYeah, I don't sympathize with them either, but I think the conspiracy theories are probably false.
- CivBase 6y agoWhat they did was still blatant market manipulation, even if the conspiracy theories are all wrong and it was unintentional. That alone warrants a serious investigation and probably the introduction of some new market regulations.
- MrMan 6y agoYes RH is terrible.
- tedunangst 6y agoSure, but people should probably know the truth about it being incompetence or a conspiracy to save GME shorts before they decide to plow even more money into the trade.
- fma 6y agoLOL but RH is known to be pretty unstable... "Redditors in the irony-poisoned Wall Street Bets (r/wallstreetbets) community discovered an exploit in the investing app Robinhood they’ve named “infinite leverage” that enables them to lose huge sums of money at record speeds." https://www.vice.com/en/article/gyz9kj/a-robinhood-exploit-let-redditors-bet-infinite-money-on-the-stock-market https://www.vice.com/en/article/gyz9kj/a-robinhood-exploit-l...
- MattGaiser 6y agoBecause the honest explanation was that they were near insolvent for a period.