Day trader army loses all the money it made in meme-stock era

Re:Day trader army loses all the money it made in meme-stock... by boeingUH60 on Tuesday May 10, 2022 @04:29AM (#31324805)

> The right thing to do is to hand out the money fast and go after the abusers later.

In my opinion, this is not a winning strategy. It takes magnitudes more efforts to go after criminals and recover misappropriated money than to prevent the crime in the first place.

P.S.; I'm not an American, so I don't think I have much say in judging how you guys spend your taxes, anyway.

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Re:Day trader army loses all the money it made in meme-stock... by actually_a_dog on Tuesday May 10, 2022 @04:40AM (#31324865)

This isn't something being advocated as a general strategy. This is an emergency relief strategy, and it makes sense in that context.

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Re:Day trader army loses all the money it made in meme-stock... by banannaise on Tuesday May 10, 2022 @10:06AM (#31327281)

It also takes magnitudes more efforts to means-test than to simply distribute resources equally, yet here we are.

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Re:Day trader army loses all the money it made in meme-stock... by mschuster91 on Tuesday May 10, 2022 @04:44AM (#31324889)

In a crisis - and covid was one that came about as fast as war to Ukraine - the thing that matters most is speed.

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Re:Day trader army loses all the money it made in meme-stock... by MomoXenosaga on Tuesday May 10, 2022 @09:01AM (#31326573)

Yep I remember how everyone thought COVID would lead to a depression.

Honestly who cares if a bunch of gambling addicts and dumb kids lost money on GME or Luna? The real economy is safe for now.

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Re:Day trader army loses all the money it made in meme-stock... by Sebb767 on Tuesday May 10, 2022 @12:17PM (#31328892)

> Yep I remember how everyone thought COVID would lead to a depression.

I don't think we are in the clear already. Just take a look at the markets right now.

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