Obviously the recent moves on things like GME, AMC, BB, etc were bubbles and totally unsustainable. Likewise a bunch of people were going to be left holding the bag when the bubble popped but there a couple of issues here. First, thats not exactly new in terms of trading and second, this isn't likely to affect the broader market in the way housing or tech did previously because for all the coverage, it's mostly isolated (non-systemic).

The problem here is that if you allow brokerages to collude with no criteria or oversight, you basically allow the free reign to manipulate the market and that can't happen.

Yo where is Ja?? Someone find Ja to make some sense of this situation!!

Victor, I dont ask for much, but can you guys eat this guy first?

.

It is the (supposed) role of regulators to prevent and address bubbles and investor risk in a way that maintains the integrity of the financial system, all this has done is expose a huge asymmetry and yet another example of how capital markets don’t really work for everyone. Platforms are not meant to play this role and do not advertise themselves as such when taking on customers. They also (for a number of reasons) explicitly go out of their way to disclaim any fiduciary responsibilities at all for their customers whenever possible.

You would have to also be a huge ****ing idiot to ever open an account in one of these again as a retail trader and I’m fairly confident the market backlash will be bad for them regardless of any legal action.

“These specific retail investors were prevented from losing money in a bubble” is the exact opposite of “taking a step back.” And which ones exactly? All of them as a whole? Most of them? Some of them?

love the invisible hand of the free market usa#1 baby

hold the line! if you find yourself in green fields with the sun on your face, do not be troubled!

what we do in life, echoes in eternity!

What is happening right now is actually disgusting, Victor's side of the coin is looking better by the minute.

eh, I vote him second. that Chamath clown is my top course.

huh, really does make u think

damn I thought everyone liked Chamath. guess I could count on you to not

he wants to recall big time shitlib Newsom tho! (who probably does, indeed, suck)

lfg!

We have "the left" who wants to take this up to help the little guy, and "the right" who wants to take this up to **** over Big Tech (RH, Twitter, it's all the same right?). Wall Street is going to need to give someone up here since no one that matters will actually face consequences, and RH is already sending out "we ****ed up" emails. Their Angus had better be fully peppered.

The scapegoat here is clear already- Reddit user in his moms basement.

Both sides can get behind that

I don't have an RH account but the CEO has come out and said they made the correct call

That's not really the line anyone is taking tho. I realize this would be exactly the first time a politician has ever done a 180 on something, but right now, pretty much everyone is taking the user's side.

Man, **** is way more boring now that all we have to talk about is a bunch of middle aged people LARPing as heroes for the poor.

Quick, 72, remind us that kids are still in cages or something.

the bros gave us McConnell

shouldn't you gals be at brunch or something now that everything is perfect

What sort of poor goes to brunch on a Saturday bro? Do they give discounts then or something?

thought it was part of the daily lifestyle for the problem-free

I've always thought brunch was just a Sunday thing. Learn something new every day.

Anyway, looks like we might be getting a decent push towards a globalized tax on tech corporations. I know it won't happen/won't be big enough if it happens/won't be effective even if it happens, but it's nice to have a government that at least wants to work on taxation again.