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That's ridiculous. Finance runs the world. If that were true what does that say about the world.
by haecceity 6y ago
That's ridiculous. Finance runs the world. If that were true what does that say about the world.
- ravenstine 6y agoI'm not sure how having one's ability to buy a stock taken away says anything but bad things about the world.
- valuearb 6y agoTemporarily taken away for a few hours, on a small set of platforms. Wow, first world problems are the worst.
- ycombigator 6y agoThe bigger issue is how a problem caused by hedgefunds doing stupid things that verge on criminal (naked short selling) ends up getting weaved into a narrative about normal buying action in the market being market manipulation.
- valuearb 6y agoThere is no convincing evidence of naked short selling in GME. And it’s always been considered market manipulation to coordinate groups of investors to make the same trade, since the 1920s. I don’t think anything done on WSB crossed the line but it was in the vicinity. The only clearly illegal acts were committed by DeepF**ingValue, since he had special obligations as a heavily licensed broker and brokerage firm employee while making his tout videos.
- addicted 6y agoThat’s because Robin Hood sucks. Much like so much else in SV they used the lure of free to surreptitiously convert customers into product.
- ycombigator 6y agoBased on the world most people see, that's fairly accurate.
- 1996 6y agoI definitely prefer working with random cryto people than with random finance people - at least, they are not trying to pretend to be what they aren't.
- Blackstone4 6y agoWell it is more complicated than that. The power structure is a complex web of entrepreneurs, government officials, land owners, military, finance, families who own businesses, CEOs of public companies etc.