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If you haven't worked in Finance, here are a few items you might want to consider before commenting one way or the other on stories from the world of finance:
by DisjointedHunt 5y ago
If you haven't worked in Finance, here are a few items you might want to consider before commenting one way or the other on stories from the world of finance:
-There are regulations on paper only and VERY rarely is monitoring conducted because of the firms asserting "confidentiality" to not share data
-Regulators are fully aware of illegal practices such as literally creating fake shares from thin air which has been illegal for over a decade and yet, THERE IS NO WAY to know if this is happening or has happened in the past year. The data is not public[1]
-Even when such blatant illegal behavior amounting to billions of dollars , the penalties are mostly fines and no one goes to jail
-Court filings indicate suspicious sales of specific securities by insiders at Citadel before they restricted retail sales. Contrast this with you, as an employee of a FAANG tech firm, trade stock on inside information and you're looking at prison time.
[1] https://www.reddit.com/r/GME/comments/m9bfp0/naked_short_selling_the_truth_is_much_worse_than/ https://www.reddit.com/r/GME/comments/m9bfp0/naked_short_sel...