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Lying (and hiding this type of information behind dodgy reasons is tantamount to lying) is illegal also. Did they do a per-customer assessment? Why did they n

Lying (and hiding this type of information behind dodgy reasons is tantamount to lying) is illegal also. Did they do a per-customer assessment? Why did they not just close shop for the day? At least that would have been honest.

beezle 6y ago
So they should penalize all their other clients who are not involved in trading GME? Everyone else should pay the price because DTCC raised collateral requirements to settle GME trades?
gruez 6y ago
>Lying (and hiding this type of information behind dodgy reasons is tantamount to lying) is illegal also. Were they lying? They made carefully crafted statements that were true, which wsb proceeded to extrapolate to fit their narrative that something nefarious is going on. >Did they do a per-customer assessment? The deposit requirements are not dependent on the customer's credit abilities (see also: they can't use customer funds), it's directly dependent on what stock they're buying. >Why did they not just close shop for the day? At least that would have been honest. "I wanted to cash out last week but robinhood shut down! Robinhood caused me to lose 80% of my investment!"
- pfortuny 6y ago
  Did they release the true information? No. Like Bill Clinton, “they did never have sex with that woman”, which in a way of understanding is technically true. Either the market flows with honest information or it is being rigged.
  - gruez 6y ago
    >Did they release the true information? I guess? * Did they shut down trading because of volatility? Yeah technically because the volatility was what caused their deposit requirements to go up. * Were they having liquidity issues? No, because they shut down trading before it became an issue. >Either the market flows with honest information or it is being rigged. I'm having trouble imaginging how him lying cause the game to be "rigged". Specifically, how him lying caused material harm to the robinhood users. People saw trading was restricted, so they jumped ship to other brokerages. They'd have done that regardless of whether it was caused by gremlins in the server room or liquidity issues.

beezle 6y ago

So they should penalize all their other clients who are not involved in trading GME? Everyone else should pay the price because DTCC raised collateral requirements to settle GME trades?

gruez 6y ago

>Lying (and hiding this type of information behind dodgy reasons is tantamount to lying) is illegal also. Were they lying? They made carefully crafted statements that were true, which wsb proceeded to extrapolate to fit their narrative that something nefarious is going on. >Did they do a per-customer assessment? The deposit requirements are not dependent on the customer's credit abilities (see also: they can't use customer funds), it's directly dependent on what stock they're buying. >Why did they not just close shop for the day? At least that would have been honest. "I wanted to cash out last week but robinhood shut down! Robinhood caused me to lose 80% of my investment!"

pfortuny 6y ago
Did they release the true information? No. Like Bill Clinton, “they did never have sex with that woman”, which in a way of understanding is technically true. Either the market flows with honest information or it is being rigged.
- gruez 6y ago
  >Did they release the true information? I guess? * Did they shut down trading because of volatility? Yeah technically because the volatility was what caused their deposit requirements to go up. * Were they having liquidity issues? No, because they shut down trading before it became an issue. >Either the market flows with honest information or it is being rigged. I'm having trouble imaginging how him lying cause the game to be "rigged". Specifically, how him lying caused material harm to the robinhood users. People saw trading was restricted, so they jumped ship to other brokerages. They'd have done that regardless of whether it was caused by gremlins in the server room or liquidity issues.