Posts Tagged ‘Janet Yellen’

LinkSwarm for April 16, 2021

Friday, April 16th, 2021

Greetings! Welcome to an extra-late Friday LinkSwarm! I had a doctor’s appointment and have been running behind all day. This week: #BlackLivesMatter activists raking off that sweet, sweet graft, mainstream media keeps up its assault on independent thought, and a bunch of Texas news.

  • Hustling the rubes for #BlackLivesMatter Dane-geld must really pay well for “trained Marxist” Patrisse Khan-Cullors, because she just bought herself a $1.4 million home in an exclusive Los Angeles neighborhood where “the vast majority of residents are white.” Evidently disdaining “whiteness” is for .
  • But her buying spree didn’t end there! She bought a total of four high-end homes for $3.2 million in the US alone.
  • Cullors isn’t the only BLM biggie buying houses on the grift. The FBI arrested Toledo, Ohio #BlackLivesMatter activist Sir Maejor Page for allegedly spending “over $200,000 on personal items generated from donations received through BLMGA Facebook page with no identifiable purchase or expenditure for social or racial justice” and is facing “federal wire fraud and money laundering charges for allegedly spending the money on tailored suits, a home in Ohio, and guns.”
  • Biden Treasury Secretary Janet Yellen wants a global minimum corporate tax. Since other countries aren’t stupid, I doubt she’ll get it. (Hat tip: Instapundit.)
  • “Teachers union power, not rate of COVID transmission, determines whether schools are open for instruction.”
  • After an embarrassing hidden camera footage of CNN personal admitting their liberal bias, Twitter permanently bans Project Veritas founder James O’Keefe.
  • Here’s what Twitter doesn’t want you to see:


    

  • And now O’Keefe is suing them for defamation.

    I am suing Twitter for defamation because they said I, James O’Keefe, ‘operated fake accounts.’” O’Keefe wrote in an emailed statement to The Federalist. “This is false, this is defamatory, and they will pay. Section 230 may have protected them before, but it will not protect them from me. The complaint will be filed Monday.”

    The discovery process for that is going to be lit…
    

  • Speaking of Twitter being petty, they will “not allow the National Archives to make former President Donald Trump’s past tweets from his @realDonaldTrump account available on the social media platform.”
  • Also, they locked the account of black journalist Jason Whitlock for daring to criticize Cullors for her house-buying spree. Presumably there’s a secret Twitter algorithm setting for “Uppity.”
    

  • Speaking of censorship, the Epoch Times had to suspend printing of its Hong Kong edition after its presses were busted up. For the fourth time.
    

  • “NYT Journalist Erases ENTIRE Twitter After National Pulse Unearths Posts Admitting “Working For The Chinese Communist Party.” That would be one Jonah K. Kessel.
  • Why Iranians are furious at New York Times reporter Farnaz Fassihi.

  • How Biden’s “job plan” would hurt the American economy.
  • College threatens to fire professor unless he takes “mandatory diversity training.” Professor tells them to get stuffed. College blinks.
  • Truth:

  • “Black Lives Matter, So Refund the Police“:

    Public officials across the country are only now discovering the foreseeable consequences of these decisions. City legislatures are realizing that in their attempt to make life better for marginalized groups, they have only contributed to the disproportionate hardships they already face. As it becomes apparent that moves to defund the police have exacerbated criminality, some local authorities are reversing cuts to police budgets passed last year amid much radical breast-beating but without much thought for who would bear the likely consequences.

    Minneapolis is the epicentre of the defund movement—the city in which George Floyd died last May as he was being taken into police custody. In spite of a spike in crime there in 2020, including a 70 percent increase in homicides, the Minneapolis City Council decided in December to redistribute $8 million from the police budget to other violence prevention services. At the time, Mayor Jacob Frey said there were “good reasons to be optimistic about the future in Minneapolis.” The move to reallocate funds away from the police department was proclaimed a “Safety for All” plan by its supporters. Unfortunately, it has made the streets of Minneapolis considerably less safe. In the first three weeks of 2021, Minneapolis saw a 250 percent increase in gunshot wound victims from the same time last year.

  • Since defunding, murders are up 64% in Minneapolis.
  • “Texas Supreme Court Delivers Dallas Salon Owner Shelley Luther a Delayed Victory.” “The remaining five days in jail and $7,000 fine ordered by the district court is now off the table entirely.”
  • “Majority of Voters Say Preventing Fraud in Elections Is More Important Than Making Voting Easier.”
  • “China Fighter Jets Will Fly Over Taiwan to Declare Sovereignty.” What could possibly go wrong?
  • “Biden is making the Trump presidency seem like a golden age of unity.”

    Until Biden came along, every single covid-19 relief bill was approved with overwhelming bipartisan support in both houses. Congress passed three covid relief packages in March 2020 with margins of 96-1, 90-8, and 96-0 in the Senate, and with overwhelming bipartisan support in the House. This was followed in April by the Paycheck Protection Program and Health Care Enhancement Act, which passed 388-5 in the House and by unanimous consent in the Senate. Indeed, the votes were so bipartisan that Democrats blocked another covid relief package until after Election Day — because they did not want to let President Donald Trump claim credit for another bipartisan victory before voters went to the polls. But after he lost and they finally allowed another covid bill to come up for a vote in December, it passed both houses of Congress with similar margins.

    Yeah, but bipartisan doesn’t curry favor with the hard left who want massive graft payoffs and total control.

  • Speaking of graft: “Nancy Pelosi’s Husband Uses Call Options To Buy Microsoft Ahead Of Big Govt Contract.”
  • “Former House Speaker John Boehner Falsely Claims Ronald Reagan Was ‘Pro-Abortion.'” He was no Newt Gingrich…
  • The Russian bounty story was always a complete lie. (Hat tip: Stephen Green at Instapundit.)
  • Texas Republican U.S. Representative Kevin Brady announces his retirement.
  • Former Texas Lt. Governor David Dewhurst was arrested on Class A Misdemeanor Assault Family Violence charges in Dallas after a scuffle over a laptop. “Hotel management told police officers that the woman was assaulted by Dewhurst. Officers spoke with the woman who said that Dewhurst was boarding a bus when the woman remembered that she had his laptop. It was a shared laptop that they both had access to, the affidavit said.” I wonder if the woman is the same 40-year old “live-in girlfriend” Leslie Caron who allegedly broke two of his ribs last year. Also makes you wonder: 1. Just what was on that laptop, and 2. What Dewhurst, a man with a reported net worth of over $200 million, was doing riding a bus…
  • Yesterday was Everybody Blog About Rebekah Jones Day.
  • Mike Rowe on why raising the minimum wage is a stupid idea:

    I want everybody who works hard and plays fair to prosper. I want everybody to be able to support themselves. But if you just pull the money out of midair you’re going to create other problems, like there is a ladder of success that people climb and some of those jobs that are out there for seven, eight, nine dollars an hour, in my view, they’re simply not intended to be careers.

  • The problem with Austin this time of year is that the air is just filled with pollen:

  • Spotify keeps deleting Joe Rogan podcasts.
  • The line between reality and Titania McGrath grows ever thinner:

  • “$251 Billion State Budget Passes Texas Senate, Stays Below Target Spending Line.”
  • SB10, a taxpayer funded lobbying ban, also passed the Texas Senate.
  • “Texas House Approves Constitutional Carry, Bill to Be Sent to Senate.”
  • “Nigeria’s Muslim communications minister: “We are all happy whenever unbelievers are being killed.'”
  • The public doesn’t want to read books by corrupt scumbag crackhead adulterous whoremongers? Do tell… (Hat tip: Mollie Hemingway.)
  • Evidently the “new” case against Woody Allen is as shoddy as the old case:

    There is no doubt that part of the goal of Allen v. Farrow was to finish off both Allen’s career and his legacy by presenting a definitive guilty verdict in the court of public opinion. The filmmakers, aided by a mostly uncritical press, have undoubtedly won over a large segment of the public—those who come to this subject for the first time through their HBO subscriptions, or who aren’t inclined to question “survivors.” But for those of us who are familiar with the story, or who take the trouble to check it out, the effect is the opposite. If making the case against Allen requires his cultural prosecutors to weave this kind of intellectually dishonest, emotionally manipulative, selectively edited account of the underlying drama, then the case for acquittal becomes stronger, not weaker.

  • Florida Man floors it.
  • Murica table.
  • “Minneapolis Target Holds Semi-Annual ‘Everything Is Free‘ Sale.”
  • “In Fun, Innovative Science Project, Middle Schooler Makes A Battery Out Of Brian Stelter.
  • Smile:

For some reason, WordPress is now putting random gaps between bullet points in the LinkSwarm, so I’m having to tinker with the look and feel a bit. I may even have to update to a more current version…

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Posted in Budget, Communism, Crime, Democrats, Foreign Policy, Guns, Jihad, Media Watch, Military, Texas, unions, Waste and Fraud | 2 Comments »

LinkSwarm for February 5, 2020

Friday, February 5th, 2021

Greetings, and welcome to another Friday LinkSwarm! The Biden Administration is moving full speed ahead hard left:

  • Kurt Schlichter: The Matrix has you:

    There’s nothing more tiresome than hackneyed references to The Matrix, except for the constant propaganda we’re hosed down with by the Establishment and its media lackeys about how everything is groovy in our totally free, free enterprise paradise of freedom and happiness and more freedom. Some of us have been woke for a while, having realized the undeniable truth that the system is rigged for the benefit of a garbage ruling class, whose sole accomplishment is to perpetuate a paradigm in which they maintain power and prestige by controlling institutions they didn’t create or build. Instead, they are cultural trust fund babies, the equivalent of third generation Kennedy brats with substance issues who got into power by getting into the right schools and modeling the right SJW attitudes. These oligarch overseers rely on us to toil in their figurative fields while they sit on their figurative porches, sipping locally-sourced figurative mint juleps.

    I say burn it all down and rebuild America into what it is supposed to be, that is, what they tell us it is when they lie to us.

    I’m not alone. We’re primed for some conservative anarchy. The normals’ resistance cannot be quelled; the revolution will be Telegrammed. Everyone’s gobbling up red pills, the one medication our incompetent Establishment is fully capable of distributing efficiently and effectively. You drop one and you see the Matrix. You see the lie. You see that it’s all rigged.

    Snip.

    I mentioned GameStop and these ladies not only knew what it was, but they cheered the armchair day trader anarchists. And they booed the hedge funders.

    Rich Orange County Republicans booed the hedge funders.

    And they booed Liz Cheney and Mitt Romney, with one exception, Nikki! Haley too. The ones who had heard of the Bulwark booed it as well, so there were like three of those.

    Populists in pearls, fully red pilled and woke as hell. They saw how the Establishment has been lying to them. They realized that they were never really members of the ruling caste despite their sweet rides and bank accounts. They were allowed its material trappings, but they were excluded from the real power, the power to govern themselves.

    They have more in common with the Keystone pipeline worker John Kerry wants to go make solar panels – which seems unrealistic, since his Chi Com collaborators make them all – than with the rich and truly powerful elite.

    People are getting woke – the red pill is socio-political anti-Ambien because it keeps you from falling back asleep and not seeing that everything is rigged.

    They see how the ruling caste allows you this little band of autonomy, and how you are allowed some leeway to improve your material life, but the instant you try to assert power that threatens the status quo, the Matrix kicks in and its immune system reacts to snuff you out.

    That was the revelation of the GameStop Revolution. You’re allowed to put your money into Wall Street and they might let you take some pennies out, but if you try to go big and play at the same level as the anointed, oh no. You don’t get to. The system shuts you down – literally. You can’t buy the hot stock. Does that apply to the hedge fund guys? You think they can’t play after you’ve been sidelined? Come on. It’s blatant market manipulation, but Wall Street owns the Asterisk Administration – Treasury Secretary & Lord High Protector of the Masters of the Universe Janet Yellin took nearly a million bucks to “speak” to the lever-pullers behind the RobinHood app – and the Administration owns the SEC, and do you think it will investigate the hedge funders who changed the rules? No, but look for FBI SWAT teams to be hitting the basements where the Reddit rebels live. That is, right after they bust more conservative meme guys for illegal memes.

    Read the whole thing.

  • Are Democrats trying to infect the military with Social Justice?

    Now, in perhaps the most chilling move yet from the new administration, the newly minted Defense Secretary [Lloyd Austin] plans to direct a military-wide stand down, reportedly to address “extremism” within the ranks.

    Austin wants all military units to take an operational pause to discuss extremism as he works to grasp the full scope of the issue and better address the longstanding problem, John Kirby, the Pentagon’s chief spokesman, told reporters Wednesday. The pauses are expected to occur within the next 60 days, but Austin has yet to determine how the stand downs are to be completed, Kirby said.

    “The intent is to reinforce the [Pentagon’s] policies and values with respect to this sort of behavior and to have a dialogue with the men and women of the force and to get their views on what they are seeing at their level,” Kirby said. “He wants commands to take the necessary time to … speak with troops about the scope of this problem. It’s a two-way conversation.”

    Austin spoke frankly with the acting service secretaries and uniformed service chiefs about his concerns about extremism in the military, including white supremacism, said Kirby, who attended the meeting. The new defense secretary, who is the first Black leader of the Defense Department, wants the service leaders to better grasp how pervasive the issue is within their formations and work with leaders to stamp it out, Kirby said.

    We have gone in a few short months from President Donald Trump preventing “critical race theory” dogma from being imposed on federal employees to the possibility that the armed services will have to apologize for their privilege.

  • Will fake moderate Biden get pushback for his hard left turn?

    it seems that Biden is intent on provoking just such a pushback by his record number of early and often radical executive orders — a tactic candidate Biden condemned.

    On almost every issue — open borders, blanket amnesties, canceling the Keystone XL pipeline, promoting the Green New Deal, and hard-left appointees — Biden is touting positions that likely do not earn 50 percent public support.

    When Biden made a Faustian bargain with his party’s hard-left wing of Bernie Sanders, Kamala Harris, Elizabeth Warren and Alexandria Ocasio-Cortez to win the election, he took on the commitment to absorb some of their agenda and to appoint their ideologues.

    But he also soon became either unwilling or unable to stand up to them.

    Now they — and the country — are in a revolutionary frenzy. The San Francisco Board of Education has voted to rename more than 40 schools honoring the nation’s best — Washington, Jefferson and Lincoln — largely on racist grounds that they are dead, mostly white males.

    Statues continue to fall. Names change.

    The iconic dates, origins and nature of America itself continue to be attacked to meet leftist demands. And still, it is not enough for the new McCarthyites.

    Social media are banning tens of thousands. Silicon Valley and Wall Street monopolies go after smaller upstart opponents.

    A wrong word destroys a lifelong career. Formerly sane pundits now call for curtailing the First Amendment. Thousands of federal troops blanket a now-militarized Washington, D.C.

    If Trump’s pushback tried to return to traditions ignored during the Obama years, Biden’s reset promises to become far more radical than Obama’s entire eight years.

    (Hat tip: Director Blue.)

  • Looking at Slow Joe The Unpopular’s approval rating sure as hell doesn’t look like a mandate for radical change:

    Biden has not been above water a single time in the Approval Index rating. This index is the difference between how many likely voters strongly approve and how many strongly disapprove. Total approval has hit 50% once so far…

    This result is astonishing when you think about it. President Biden has the full weight of nearly every corporate media outlet, tech company, and cultural institution behind him. They have been drooling all over themselves to convince us this is a return to unifying normalcy. After all, his favorite ice cream is chocolate chip, and his two German Shepherds just love their new digs. So normal. So unifying.

    (Hat tip: Stephen Green at Instapundit.)

  • Florida Governor Ron DeSantis declares war on Big Tech:

    While other Republican legislators complain and pontificate about Twitter, Facebook and Google’s interference in our elections and censoring of conservative voices, Florida Gov. Ron DeSantis has declared war on the tech giants.

    DeSantis is proposing legislation that asks the Florida state legislature to impose stiff fines – up to $100,000 per day – on tech companies that “deplatform” political candidates running for office in his state. Candidates like, for instance, Donald Trump.

    Calling the tech giants “enforcers of preferred narratives” whose interests are “not in the public interest,” DeSantis, a Republican, wants to “ensure the protection of the people and their rights.” His proposed bill would allow individuals and the Florida attorney general to sue firms that violate newly established safeguards against privacy violations and censorship.

    DeSantis also suggested that other activities, such as colluding to ban people or companies from payment platforms or from cloud services, could also be outlawed.

    Presuming that the popular governor can get his measure passed by the Republican-controlled state legislature, it could become a template for the other 23 GOP-led states. It could, in effect, be the beginning of a revolt against the unacceptable dominance and manipulation of our nation’s discourse by Big Tech.

    It’s a start.

    (Hat tip: Real Clear Politics.)

  • The Trump comeback begins:

    Here’s my game plan for how Trump can make Trump and America great again.

    First, Trump must become the kingmaker of the GOP. The Trump Army is 74 million strong. The Republican Party belongs to Trump. He should remake the party in his image.

    In some ways, his defeat was empowering. As president, Trump couldn’t get rid of RINOS and never-Trumpers, because he needed their votes. But from the outside, he can remake the party, elect allies and end the careers of the GOP traitors who stabbed him in the back. Are you listening, Rep. Liz Cheney?

    Trump should recruit, endorse and campaign for Trump Republicans in each GOP primary where they’re running against RINOS, never-Trumpers and backstabbers. Seventy-four million Trump voters will vote for his chosen candidates in GOP primaries. By 2022, the GOP will be 100% remade in Trump’s image.

    Secondly, Trump should spend the next four years fixing voter fraud at the state level. Trump should recruit his billionaire buddies to put up hundreds of millions to attack this problem. Trump’s goal should be to reform election law in just the handful of states that cost him the election: Pennsylvania, Georgia, Michigan, Wisconsin, Nevada and Arizona.

    If Trump spends his time, money and focus on reforming election laws in those six states, the GOP will be back in business in 2022 and 2024.

    Thirdly, Trump needs to raise billions from his billionaire backers to build TMN: Trump Media Network. That should include a national cable TV network; a national talk radio network; a new version of Drudge Report (called Trump Report); and conservative versions of Twitter, Facebook, Instagram and YouTube. Conservatives will never again have to depend on the mainstream media or Silicon Valley to broadcast their news and opinions.

    Only Trump has the money, brand and fundraising ability to change the media and social media landscape like this. And think of the amazing bonus: Not only will 74 million Trump voters have permanent places to communicate but if we all move away from mainstream media and social media, they will collapse. Trump will cripple his enemies and put many of them out of business.

    However, I’m not a fan of Root and others idea of Trump running for the House.

  • Bryan Proffitt, “the Vice President of North Carolina’s largest teachers’ association is a self-avowed Marxist activist linked to Liberation Road – a ‘revolutionary socialist‘ group that follows the teachings of Karl Marx and Mao Zedong.” Sounds like a good reason to put your children in a private school. (Hat tip: Stephen Green at Instapundit.)
  • There’s now a website to fight critical race training in education. You might want to bookmark that site. (Hat tip: Kemberlee Kaye.)
  • The Biden Administration hates private space ventures and pulled permission from Elon Musk’s SpaceX to fly. Punishment for Musk supporting the GameStop squeeze? Either way, it’s blow to American space capabilities and a boon for Chinese domination of space. (Hat tip: Borepatch.)
  • Speaking of which: Chicom rocket goes boom.
  • “Joe Biden put me out of business by suspending new oil and gas leases and drilling permits. I am a petroleum geologist and generate drilling prospects in the Rocky Mountains on federal lands. I worked six years to get a prospect ready to drill and Biden just illegally broke the terms of the lease, killing the deal.” (Hat tip: Stephen Green at Instapundit.)
  • “Police dismantle world’s ‘most dangerous’ criminal hacking network.”

    International law enforcement agencies said on Wednesday they had dismantled a criminal hacking scheme used to steal billions of dollars from businesses and private citizens worldwide.

    Police in six European countries, as well as Canada and the United States, completed a joint operation to take control of Internet servers used to run and control a malware network known as “Emotet,” authorities said in a statement.

    “Emotet is currently seen as the most dangerous malware globally,” Germany’s BKA federal police agency said in a statement. “The smashing of the Emotet infrastructure is a significant blow against international organised Internet crime.”

  • “Cornyn, Crenshaw, Cruz Lead Fundraising in Final Quarter of 2020.”
  • Blackpool, UK, is preparing to seize land to make into a Chariots of the Gods theme park.

  • “Number of Texans with at least one vaccine dose surpasses number of confirmed COVID-19 cases.” Faster, please. (Hat tip: Texas Governor Greg Abbott.)
  • CEO: “We tried paying everyone the same salary. It failed.”
  • Good news! Gay Patriot blog relaunched. (Hat tip: Instapundit.) Also see this Twitter account, which may look familiar…
  • Once again social justice warriors fail to cancel Chris Pratt.

  • 21st century headlines: “Scientists have now taught spinach to send emails warning of landmines.”

  • “Snopes Rates AOC’s Account Of Capitol Attack As ‘Factually Inaccurate But Morally True.'”

  • “AOC Recalls How She Barely Survived Terrorists Seizing Nakatomi Plaza.”
  • “Hey Strongbear, do you like techno?”
  • What it was like to see Star Wars in 1977.
  • Heh:

  • Funny dog tweet:

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    Posted in Crime, Democrats, Foreign Policy, Military, Republicans, Social Justice Warriors, Texas, unions | No Comments »

    GameStop Short Sellers Refusing To Fold?

    Saturday, January 30th, 2021

    You might think that, having suffered billions in losses, hedge funds would want to get out of the GameStop short-selling game.

    You’d be wrong.

    The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this month, but they are not budging.

    Short-selling hedge funds have suffered a mark-to-market loss of $19.75 billion year to date in the brick-and-mortar video game retailer, including a nearly $8 billion loss on Friday as the stock kept ripping higher, according to data from S3 Partners.

    Still, short sellers mostly are holding onto their bearish positions or they are being replaced by new hedge funds willing to bet against the stock. GameStop shares that have been borrowed and sold short have declined by just about 5 million over the last week, marking an 8% dip in the short interest, according to S3. Most of the short covering occurred on Thursday, when the stock fell for the first time in six days.

    “I keep hearing that ‘most of the GME shorts have covered’ — totally untrue,” said Ihor Dusaniwsky, S3 managing director of predictive analytics. “In actuality the data shows that total net shares shorted hasn’t moved all that much.”

    “While the ‘value shorts’ that were in GME earlier have been squeezed, most of the borrowed shares that were returned on the back of the buy to covers were shorted by new momentum shorts in the name,” Dusaniwsky added in an email.

    Shares of GameStop were back up Friday after Robinhood and other retail brokers allowed trading to resume.

    The borrow fee on GameStop’s stock — or the cost-to-borrow shares for the purpose of selling them short — jumped to 29.32% on existing shorts and 50% on new short positions, S3 said.

    “If most of the shorts had covered, we would not be seeing stock borrow rates at these high levels — by now you would be able to borrow GME stock at single digit levels due to an increase in the lendable stock loan supply due to borrowed shares being returned after all the ‘supposed’ buy-to-covers,” Dusaniwsky said.

    GameStop remained the most-shorted name in the market as short interest as a percentage of shares available for trading stands at 113.31%, S3 said.

    (Supposedly Melvin Capital and Citron are out of their GameStop short positions. So who is still in?)

    Assuming all the above is true, the remaining hedge funds and their allies are still shorting more than 100% of the stock, despite the theoretically infinite risk involved. I can think of several theories to explain what appears to be apparently irrational behavior:

    1. Short sellers fully expect their friends in the Biden Administration and/or the financial regulatory apparatus to come to their aid and extricate them from the bind they’ve put themselves into by suspending or changing the rules. Huh. I wonder why they could possibly think that?

    2. 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).
    3. Short sellers expect one or more “whales” (i.e., rich individual investors) to flip and either sell their shares or lend them out to cover shorts once the temptation to take profits is too great.
    4. Deeper-pocketed short sellers expect the squeeze to force weaker rivals out of the game, either taking huge losses to liquidate their positions or going bankrupt. In either case, they expect this winnowing to drop shorted shares below the 100% threshold, relieving the pressure on the shorts for the remaining short sellers.

    Obviously, it could also be a combination of all these. (Or something else; feel free to float other theories in the comments.)

    It’s the first two possibilities that should worry us from a policy position: If the big players can break the rules at will to reverse their fortunes when they’ve been beaten at their own game by the little players, then it’s not a free market. And if it’s not a free market, what’s to keep ordinary Americans from getting out of the game entirely?

    (Hat tip: Director Blue.)

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    Posted in Democrats, Economics, Regulation | 3 Comments »

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

    Thursday, January 28th, 2021

    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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    Posted in Democrats, Economics | 5 Comments »