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by heimatau 1964 days ago
Rumor mill says that the White House and Sequoia called RH to force their hand. Honestly, I wouldn't expect anything less. I say this because 2% drawdown of the stock market didn't happen for zero reason. It happened because these fools are leveraged up to their ass (metaphor) and the bet cost them severely. And it's cheaper to take the bad PR while salvaging your fuck up. These people act in a different set of rules and that's not okay.

IMHO, I'm concerned about this because this is a 1st amendment problem. Let grown adults gamble. Let them be responsible for their dumb actions (hedge and retail alike). If someone is 'too big to fail' then they are 'too big to exist'.
2 comments
aneemzic 1964 days ago
> I'm concerned about this because this is a 1st amendment problem. Let grown adults gamble.

Gambling isn't even legal in most states. Good luck arguing that.

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heimatau 1964 days ago
> Gambling isn't even legal in most states. Good luck arguing that.

What States are you not allowed to short or long? Using your logic, this is cognitive dissonance. How free people spend their money is an act of speech, PACs and SuperPACs are emboldened by this current legal fact.

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aneemzic 1964 days ago
No, you specifically said it's a first amendment problem and to let adults gamble. If it was a first amendment problem, gambling wouldn't be illegal in most states.
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heimatau 1964 days ago
> No, you specifically said it's a first amendment problem and to let adults gamble. If it was a first amendment problem, gambling wouldn't be illegal in most states.

Maybe you need explicit help to understand my position. If hedge funds can short/long stocks, there should be nothing preventing a retail investor from doing the same.

As for it being speech, well, corporations are people and PAC/SuperPAC political donations (read: blackbox donations) are speech. These are current USA facts.

From there, I extrapolate that it would be unfair to regulate Main Street instead of Wall Street. This wouldn't be such a massive problem if Wall Street wasn't allowed so much leverage (and short 140% of the company shares...how is that even legal. That's literally fraud). I can't sell you 100% of my property and then sell 40% to someone else.

It's that simple, stop obstructing discourse.

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redisman 1964 days ago
The White House? This”rumor” doesn’t make any sense
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Rapzid 1964 days ago
The Man is pulling the strings and everybody knows The Man lives in the White House.

It makes a perfect kind of sense. Nonsense.

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