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

Fuck off shills, autism doesn't give two shits about you



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mindlessobserver said:
100 pages! TO THE MOOOOOOOOOOON

What a glorious shit storm this is.
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Despite all the shitposting, projections say that KIWI (/r/wsb autists taking on a wallstreet hedgefund) is going up. Buy now.

Bill The Fucker said:
Even selling your stock for you is covered in the TOS. It's going to be hard as fuck fighting this in court.
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No it isn't. I don't understand why people say shit like this: you cannot write terms of service that permit you to do illegal things in deficit of explicit consent. Even with explicit consent, most of the time.
The fact that an onerous terms of service is written, you agree to it, does not mean that you are giving any firm permission to do illegal things to you or your assets.
Robinhood is not a formal broker. You cannot give Robinhood implicit consent to sell anything on your behalf, it must be explicit. The TOS does not align with the intended use of the product, and the notification of terms was not sufficient to be enforceable (it almost never is.) Companies lose when they have to go to court based on contract, because inevitably, abusive contract behavior is the oldest, and most controlled, type of white collar crime. Many websites teeter on the precipice of class action suits already, held back only by the same apathetic public that didn't challenge the big players' stranglehold on the stock market.
That apathy's changing, too, I think.

Edit: And to be extra clear, class action suits are for dummies. They are presented to the court with knowledge that the people calling for action are laymen, who don't have some miraculous legal argument already set out. It's designed such that everyone involved has to invent the strongest legal argument based on presented claims, and boy will they. It's a very different bag of worms from "normal court."
 
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DeadFish said:
So lets say reddit wins. What will be the outcome? Major market correction? Bailouts? What?
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The dream scenario:

WSB people cash out bigly with the squeeze, some walking away as millionaires.
They'll be in a much stronger position to pull this off again. Also highly motivated, after the cartel tried to blatantly to shut them down by any means.
There's probably no shortage of greedy fucks at Wall Street who are begging to be bankrupted....so we may see a devastating second wave soon.
 
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millennialcat96 said:
Can anyone here educated about the subject tell me would it be possible for the gornvement to print money to bail out funds, corporations and banks if the situation happened on a much larger scale?
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They could, but it'd be like Weimar Germany or Zimbabwe. How willing are they to tank everything and throw their legitimacy to the wind, all just to stay Kings of Shit Mountain? That's the question.
 
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Dafuqisdis? said:
That doesn't say anything about them being able to sell your stock.

It just saying that if anyone manages to log into your account and does something shady with your investments, tough titties.
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Unfortunately they're more explicit later on:
Robinhood and/or the Third-Party Providers may discontinue or modify the Content, or any portion thereof,at any time. You release and agree to indemnify and hold harmless Robinhood,and the Third-Party Providers,for any loss or damages arising from or relating to such discontinuation or modification
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EDIT:
Content includes, without limitation: (1) account positions, balances, transactions, confirmations, and order history; (2) general news and information, commentary, research reports, educational material and information and data concerning the financial markets, securities and other subjects; (3) market data1such as quotations for securities transactions and/or last sale information for completed securities transactions reported in accordance with federal securities regulations; (4) financial and investment interactive tools, such as alerts or calculators; (5) tax preparation, bill payment and account management tools; (6) company names, logos, product and service names, trade names, trademarks and services marks(collectively, “Marks”) owned byRobinhood, and Marks owned by ThirdParty Providers(defined below); and (7)any other information, content, services, or software.Certain Content is furnished by third parties (each, a “Third-Party Provider” and collectively, the “Third-Party Providers”).
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millennialcat96 said:
Can anyone here educated about the subject tell me would it be possible for the government to print money to bail out funds, corporations and banks if the situation happened on a much larger scale?
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They'll probably bundle it into the next "Covid Relief" stimulus and use it to treat everyone living in poverty as a human shield.

"What's that? You're against the Stimulus? But think of all the poor pieces of shi... I mean, unemployed people who need this money? You're not against them getting a pittance, are you?"
 
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Let this be a lesson to you, kids: They don't want you to have any success. They don't care for you or your well-being. All you are is a means to an end.

They stole the election and now they're stealing the market away. They're demonizing everyone involved as a nazi, incel, or provocateur. They're doing everything they can to maintain the status quo and it's at the expense of us common folk.

Fuck them.
 
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haurchefant said:
Holy fucking shit are they fucking insane?
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...did reddit accidentally blow up a broker while they were trying to blow up a hedge fund?

If a broker has to start doing this, usually it's because they fucked up a scheme at their trading desk and got caught out. The really shady kind of schemes, like not executing small trades but charging a commission and settling with your own cash.
 
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