Posts Tagged ‘Ken Griffin’

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 »