Corrupt Establishment Moves To Screw Retail Investors, Bail Out Hedge Funds

Seldom has Wall Street moved so blatantly and illegally as they have today to crush the retail investors carrying out the GameStop Short Squeeze. This is a fast-moving story, so here are a few highlights from today’s developments:

  • The Robinhood trading platform has halted trading of stocks noted for being shorted by hedge funds:

  • Not only that, there are widespread reports that Robinhood is forcibly selling shares of GameStop against the will of account holder:

    If this is true, and it applies to cash-purchased shares and not those bought on margin (a margin call is a different type of beast), then the leadership of Robinhood should be arrested and charged with embezzlement and grand larceny, no matter what their EULA claims they can do.

  • A class action lawsuit has been filed:

  • Barstool Sports on Robinhood’s betrayal:

    Feel free to skip the ad that runs from 2:30-3:00.

  • Pressure from Sequoia Capital and the White House?

    File under “Unproven but it wouldn’t shock me.”

  • Short sellers reportedly sustained losses of $70 billion so far in 2021. (Hat tip: Daddy Warpig.)
  • Sean Davis explains that Wall Street insiders have simply decided that the vile peasants must not be allowed to win:

  • Big tech has joined in to crush the rebellion:

  • Bastards:

  • True, dat:

  • Analogy:

  • Eric Weinstein’s exegesis on the expansion of wrestling’s kaybafe to the political world may also apply to Wall Street. “Were Kayfabe to become part of our toolkit for the twenty-first century, we would undoubtedly have an easier time understanding a world in which investigative journalism seems to have vanished and bitter corporate rivals cooperate on everything from joint ventures to lobbying efforts.” If all of Wall Street is in on a con game against ordinary investors, and is willing to blatantly break the law to keep any insider from being trounced by mere peasants, then we no longer have anything resembling a free market in stocks. And if Wall Street is running a crooked game rather than a free market, then conservatives are no longer obligated to protect Wall Street. Too cynical? Possibly. But it isn’t a hypothesis we can reject out of hand.
  • After dinner mint:

    if Dogecoin is up 500%, now I want a more obscure cryptocoin to speculate on…

    • What really gives me pause is this: Everyone in the world was paying attention to the GameStopo short-selling shenanigans the last few days, and they’re still blatantly, and nakedly, trying to illegally rig the system, even though they’re in the wrong, and even though everyone is watching. If they’re willing to so blatantly break the law with everyone watching, what sort of crimes are they getting away with when we’re not watching?

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    This entry was posted on Thursday, January 28th, 2021 at 11:01 PM and is filed under Democrats, Economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

    5 Responses to “Corrupt Establishment Moves To Screw Retail Investors, Bail Out Hedge Funds”

    1. Brian says:
      January 29, 2021 at 8:56 AM

      Of course they do illegal stuff right in the open. Who’s going to stop them? The media? Just like the Presidential election, the media assholes aren’t going to do squat except parrot what the overlord, who pays them the most money, tells them to report.

    2. LinkSwarm for January 29, 2020 « Lawrence Person's BattleSwarm Blog says:
      January 29, 2021 at 11:34 AM

      […] Attacking so fast they won't know what hit them… « Corrupt Establishment Moves To Screw Retail Investors, Bail Out Hedge Funds […]

    3. martywd says:
      January 29, 2021 at 2:25 PM

      Yup, what ‘@Brian says:’ above.

      Let’s face it. It’s like: ‘Game(Stop) over man, game over!

      As a Country, we’re done.
      .

    4. GameStop Short Sellers Refusing To Fold? « Lawrence Person's BattleSwarm Blog says:
      January 30, 2021 at 12:30 PM

      […] Short sellers expect to use their power to force trading companies to bend to their will by forcing retail investors to sell their shares (as Robinhood was reportedly doing on Thursday). […]

    5. Texas Stock Exchange Takes Aim At NYSE, With Unlikely Partners « Lawrence Person's BattleSwarm Blog says:
      June 6, 2024 at 10:32 AM

      […] last time we looked into Citadel Securities was because they had apparently been caught with their hands in the GameStop naked shorts cookie jar at the same time they were telling trading platform (and investment recipient) Robinhood to stop […]

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