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IdleRich

IdleRich
Wonder how Wall St. will respond to all this. Surely there's going to be some legislation coming down the pipeline to nip it in the bud.
Hard to say what they can do... demand people trade in good faith? As if that's ever been the way.
Not to say that they won't find a way, they always win in the end.
 

version

Well-known member
I was thinking more something along the lines of leaning on the Biden administration to do something about apps like Robinhood.
 

version

Well-known member
I saw a screen grab from wsb passed around after the election calling palantir a good investment because Biden would expand the surveillance state. think it was meant only half seriously but what does that mean really
I keep thinking you're Corpsey now you've got your old avi back.
 

IdleRich

IdleRich
That would be so un-American though.... to explicitly control access to the stock market which is the throbbing heart of American industry, the literal embodiment of the American Dream.
 

version

Well-known member
In one post he references a letter Karl Marx wrote to a friend wherein Marx reveals he has been speculating in English stocks and "in this way … made over £400."

"It's a type of operation that makes demands on one's time," Marx wrote of his speculative exploits. "But it is worthwhile running some risk in order to relieve the enemy of his money."
 

luka

Well-known member
it would have helped him understand how the game worked. thats why id do it if a)i had money to invest and b)wasnt bone idle
 

IdleRich

IdleRich
In one post he references a letter Karl Marx wrote to a friend wherein Marx reveals he has been speculating in English stocks and "in this way … made over £400."

"It's a type of operation that makes demands on one's time," Marx wrote of his speculative exploits. "But it is worthwhile running some risk in order to relieve the enemy of his money."
The George Soros of his era.
 

IdleRich

IdleRich
But how do you read that? Prudent attempt to protect inexperienced traders from a volatile market or a cynical ploy by the big players to stop themselves having their arses kicked by the amateurs?
 

IdleRich

IdleRich
If all the trading platforms do that then the big-players will still be able to trade but the little guys won't.
 

IdleRich

IdleRich
The latter.
It normally pays to be cynical in this game.
Although... if one platform does that, and another doesn't, then won't they lose a lot of business? Unless they can do a concerted move, united front type thing and just freeze out the little guys... fuck 'em, they'll be back "everybody knows the dice are loaded, everybody rolls with their fingers crossed."
 

IdleRich

IdleRich
Although... just to play devil's advocate, you only have to look at dissensus to know that there are a load of rubes who read the news yesterday and are about to pile all of their savings into something they barely understand - perhaps there is an argument for protecting them from themselves?
 

version

Well-known member
dont post links to the onion though. if you like the joke that much just steal it.
I liked this one around the time of the George Floyd protests,
 

version

Well-known member
“Look, we all have the right to protest, but that doesn’t mean you can just rush in and destroy any business without gathering a group of clandestine investors to purchase it at a severely reduced price and slowly bleed it to death,”

“I understand that people are angry, but they shouldn’t just endanger businesses without even a thought to enriching themselves through leveraged buyouts and across-the-board terminations. It’s disgusting to put workers at risk by looting. You do it by chipping away at their health benefits and eventually laying them off. There’s a right way and wrong way to do this.”
 
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