/r/wsb autists taking on a wallstreet hedgefund. Elon musk involved as always / wallstreetbets / gamestop - Gamergate 2: financial boogaloo

So question, will some trading apps still let you buy gamestop stock or is the party over in that regard?
 
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LurkTrawl said:
Nation-wide bank run. I'd love to see that happen.
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Now that would get lenders out of the gambling business, which I would love to see and should never have been allowed again.

What I'd love to see is the clients of these hedge funds start going after them and then we see an "eat the rich. Also the rich are eating the rich" scenario. Don't these money managers have some sort of legal fiduciary duty to act in their client's best interests? How do you answer "you promised to buy more shares than exist with your clients' money, son. How's that responsible" in front of a judge?
 
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"I hope you kids and holders who wanted to break up my portfolio… are happy… 'cause all you did was make me feel sad and depressed. And you made me crash… into insolvency… a couple of times" (:_(
 
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Takashi_69 said:
Serious question, I'm ignorant. Why are Wall-street bankers so hated? How do they affect the average person?
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You know how no one really invests in stocks or puts much value to it? What's happening now is part of that. Some jackass trust fund baby short sold stocks and expected to buy it back up for cheap, only someone else did first after they had the fucking gall to brag about it online. Now, we're the badguys.

It's a rigged casino game and they're mad anyone else is playing to win and succeeding.
 
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Takashi_69 said:
Serious question, I'm ignorant. Why are Wall-street bankers so hated? How do they affect the average person?
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Usury is theft, and everyone making 5 figures will naturally hate that their paycheck is taxed while billionaires and multimillionaires make money by leaching off the worker, the indebted student, and the ailing pensioner. Fuck Wall Street, and fuck the government shills that bail them out with MY FUCKING TAX DOLLARS.
 
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instythot said:
Now that would get lenders out of the gambling business, which I would love to see and should never have been allowed again.

What I'd love to see is the clients of these hedge funds start going after them and then we see an "eat the rich. Also the rich are eating the rich" scenario. Don't these money managers have some sort of legal fiduciary duty to act in their client's best interests? How do you answer "you promised to buy more shares than exist with your clients' money, son. How's that responsible" in front of a judge?
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As I said if you want to trigger a massive bank run all you need a medium sized group conspiring together to spread rumors and disinfo.

Minced meat not included.
 
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Predictions: the trading apps will get locked down and you'll be forced to do it the old fashion way(if you're an average joe). The WSB subreddit will get the r/the_Donald treatment, Reddit admins will gut their mod team and install puppets who'll enforce the "market manipulation" rule on a much broader level(this may already be happening, it went private for a little while this afternoon).
 
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vern said:
>tfw just set up a 401k through work a week ago and reddit might crash the stock market in a few days.
fuck me...
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401k's are meant to grow long term until you retire anyway (you usually get slapped with extra taxes if you withdraw early or aren't experiencing some emergency hardship, though I think they've temporarily lifted it because of 'rona), so if you happen to contribute during a crash just think of it as buying stuff at a large discount. You'll generally eventually recoup the losses all back anyway, but now with more stonks.
 
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