Re:“WSB veterans know that they're making a suicide charge f...
by mschuster91 on Tuesday February 02, 2021 @01:11PM
(#26004426)
> Plus more people are becoming aware of how rigged the whole financial system is, how its a boys club that will attack any outsider at sight.
And there are also indications of illegal practices (naked short selling), people are asking themselves why stock purchase settling takes two days instead of either seconds (or, to account for an option to unwind mis-trades, hours) which was why Robinhood and others suddenly found themselves in a dire need for cash, and why/how Robinhood can afford their cheap fees (because they're selling off the data of their users).
The most important part that the world learned from $GME is another: the big promise after 2008ff was "we learned from our mistakes, regulations were passed to rein in dangerous speculation"... and $GME proved undeniably that this has not happened, not during the Obama admin and certainly not under the Trump admin. Wall Street still is a casino, not a stock exchange.
(disclosure: holding a couple dozen AMC and NOK for the lulz)
And there are also indications of illegal practices (naked short selling), people are asking themselves why stock purchase settling takes two days instead of either seconds (or, to account for an option to unwind mis-trades, hours) which was why Robinhood and others suddenly found themselves in a dire need for cash, and why/how Robinhood can afford their cheap fees (because they're selling off the data of their users).
The most important part that the world learned from $GME is another: the big promise after 2008ff was "we learned from our mistakes, regulations were passed to rein in dangerous speculation"... and $GME proved undeniably that this has not happened, not during the Obama admin and certainly not under the Trump admin. Wall Street still is a casino, not a stock exchange.
(disclosure: holding a couple dozen AMC and NOK for the lulz)