Re:GameStop Is Rage Against the Financial Machine
by pbhjpbhj on Thursday January 28, 2021 @11:30AM
(#25944412)
Did anyone end up in jail for causing the global financial crisis? Or, say, for manipulation of the interbank lending rate?
Isn't it more likely the company will go bankrupt and the traders will 'only' have their most recent £10M bonus to fall back on?
Re:GameStop Is Rage Against the Financial Machine
by 6nf on Thursday January 28, 2021 @05:49PM
(#25950645)
They did not lie, they just neglected to disclose how much of their shorts were closed.
Re:GameStop Is Rage Against the Financial Machine
by sjg007 on Wednesday January 27, 2021 @07:40PM
(#25936483)
Lie or go bankrupt? Hard choice.
Re:GameStop Is Rage Against the Financial Machine
by llampx on Wednesday January 27, 2021 @08:29PM
(#25936917)
Its cute that you think anyone in the cozy wall street / hedge fund family would go to jail for lying.
Re:GameStop Is Rage Against the Financial Machine
by nearbuy on Thursday January 28, 2021 @12:15AM
(#25938482)
Bernie Madoff, Conrad Black, Martha Stewart
Re:GameStop Is Rage Against the Financial Machine
by mmmeff on Thursday January 28, 2021 @04:05AM
(#25939786)
Even then, it’s more of a “jail” than a jail.
Re:GameStop Is Rage Against the Financial Machine
by nearbuy on Saturday January 30, 2021 @01:19AM
(#25966733)
I don't know that much about it. Martha Stewart went to a minimum security prison for female inmates, and honestly, she's exactly the type of criminal that belongs in minimum security. The judge recommended they send her to her first choice prison (in Danbury) but for some reason they couldn't and they sent her to a prison she didn't want. I'm not really seeing favoritism here. She was investigated for insider trading, but those charges got dismissed and she was ultimately just convicted for lying.
Some people are saying that Melvin Capital lied. That seems unlikely: my guess is that you'd go to jail for a long time if you lied about your purchases to manipulate the market on such a grand scale.