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OK so a committee of people with financial stake in the matter make an arbitrary decision that incidentally benefits the companies they represent and screws the

• JumpCrisscross 4y ago
  > a committee of people with financial stake in the matter make an arbitrary decision that incidentally benefits the companies they represent and screws the clients of brokers and thats transparent Rules were automatically applied. Rules someone with two years in operations should be able to model. The committee met to give Robinhood a bailout. By the rule book, the DTCC had the right to liquidate their collateral. The committee instead chose to take that counterparty risk on themselves, the risk that if Robinhood couldn’t raise emergency capital they’d have to pony up some of their own. And that committee meeting’s minutes are filed with regulators and actions publicly announced, so even there, tons of transparency.
  • qaq 4y ago
    You keep framing it like it was just RH it was a good number of players including IB. Meeting minutes do not cover things said in hallway :)