Excellent Robert Reich twitter thread re: GameStop

[wackadoo wabbit]

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If Redditors rallying GameStop is unacceptable market manipulation, what would you call it when greedy Wall Street bankers gambled away our entire economy in 2008 and faced no consequences?

So let me get this straight: When the government taxes corporations it’s tyranny, but when Wall Street stops Americans from trading stocks it’s just business?

Apparently market manipulation is only legal when rich people do it.

So let me get this straight: Redditors rallying GameStop is market manipulation, but hedge fund billionaires shorting a stock is just an investment strategy?

Maybe if we actually held Wall Street accountable for once, they wouldn’t behave as if their actions have no consequences?

I’m old enough to remember when Wall Street gambling nearly toppled our entire economy but not one major executive ever went to jail for it.

I love this man!

[OAITW r.2.0]

1. Been a righteous man for as long as I can remember.

He gets it....

So who really owns Robinhood? I'm betting companies that are holding a lotta GameStop shorts.

[RainCaster]

4. I bet you're right about Robinhood being run by a VC firm associated with Citadel, Melvin or Citron

These bastids did something very crooked when they shut down GME trading today.I want to see multiple people go to prison for this.

[SheltieLover]

2. Superb!

[Ferrets are Cool]

3. K and R

[sarcasmo]

5. Two tiered market, this time 10k little guys scared the big guy.

[Decoy of Fenris]

7. To be fair, it's probably closer to a million if not more.

14% of Robinhood users own GME, so that's 14% of 13 million. And that's just Robinhood, not any other brokerage.

[sarcasmo]

8. Thanks, I didn't realize the Robinhood number was 13 million.

[BobTheSubgenius]

9. wackadoo or not, I totally agree with you about RR.

He is fantastic! Smart, outspoken and honest, with a heart in the right place!

[Nitram]

10. Wealthy caught putting their thumbs on the scales.