Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

AOC considering hearing over RobinhoodApp decision to block purchasers of GME

twitter.com

Post reply on HN
Print view View original

31–40 of 74 posts

Re: AOC considering hearing over RobinhoodApp decision to block purchasers of GME

#31

Post by brentm »

newacct583 wrote: post #29
s_dev wrote: post #3

The fact that Ted Cruz and AOC completely agree on this shows you how unprecedented this all is.

Yes, but... they're both wrong. The trades that Robinhood blocked were objectively bad trades, and the people they stopped from buying would almost certainly have lost all that money. Now, I agree that there's a good first principles argument (and also a bad populist one) that people should be allowed to trade their own money into scams if they want. But the idea of proving damages here based on the idea that GME was…

"The trades that Robinhood blocked were objectively bad trades" Seriously? Do you want brokers making this call? That is not their job. Let people learn the hard way, that is what the markets are for. Now, don't let them do it on margin but if you're going to plow your savings into GME at $450 a share then I am sorry but it's your own fault for not doing any homework at all.

Re: AOC considering hearing over RobinhoodApp decision to block purchasers of GME

#33

Post by unethical_ban »

krapp wrote: post #8
Larrikin wrote: post #6

Earlier quoted context omitted.

It's a super simple non partisan issue that can get him some press that isn't about his sedition

About that... https://twitter.com/AOC/status/1354848253729234944

I wish she would tone down rhetoric sometimes - There is a lot of straight-up factual fire to spit, and Ted Cruz did not literally factually try to murder her.

She could have made her point without that phrasing.

Re: AOC considering hearing over RobinhoodApp decision to block purchasers of GME

#34

Post by Lambdanaut »

morpheuskafka wrote: post #26

Very strange, I would have expected the opposite reaction. Every time people lose money on Robinhood they blame them for not screening clients appropriately, letting them invest more than their risk tolerance, etc. This is definitely abnormal, speculative conditions (i.e. anyone who is a normal buy and hold, value, income, etc investor does not need to be entering a position on those stocks right now). Personally, I…

> If someone really wants to buy more, it only takes a few minutes to open an account with another online firm.

Apparently for most brokers there is a waiting period of multiple days before trading becomes available.

Re: AOC considering hearing over RobinhoodApp decision to block purchasers of GME

#35

Post by Kye »

unethical_ban wrote: post #33
krapp wrote: post #8

Earlier quoted context omitted.

About that... https://twitter.com/AOC/status/1354848253729234944

I wish she would tone down rhetoric sometimes - There is a lot of straight-up factual fire to spit, and Ted Cruz did not literally factually try to murder her. She could have made her point without that phrasing.

Democrats tried even tones for decades without much to show for it.

Re: AOC considering hearing over RobinhoodApp decision to block purchasers of GME

#36

Post by s_dev »

newacct583 wrote: post #29
s_dev wrote: post #3

The fact that Ted Cruz and AOC completely agree on this shows you how unprecedented this all is.

Yes, but... they're both wrong. The trades that Robinhood blocked were objectively bad trades, and the people they stopped from buying would almost certainly have lost all that money. Now, I agree that there's a good first principles argument (and also a bad populist one) that people should be allowed to trade their own money into scams if they want. But the idea of proving damages here based on the idea that GME was…

"This is Wall-street Dr. Burry, if you offer us free money, we're going to take it"

The notion that an exchange would protect a trader from trades is laughably absurd.

Re: AOC considering hearing over RobinhoodApp decision to block purchasers of GME

#37

Post by adoxyz »

newacct583 wrote: post #29
s_dev wrote: post #3

The fact that Ted Cruz and AOC completely agree on this shows you how unprecedented this all is.

Yes, but... they're both wrong. The trades that Robinhood blocked were objectively bad trades, and the people they stopped from buying would almost certainly have lost all that money. Now, I agree that there's a good first principles argument (and also a bad populist one) that people should be allowed to trade their own money into scams if they want. But the idea of proving damages here based on the idea that GME was…

This is a bad take. There's millions of bad trades you can make. Should Robinhood block all of those as well?

Re: AOC considering hearing over RobinhoodApp decision to block purchasers of GME

#38

Post by Dirlewanger »

s_dev wrote: post #3

The fact that Ted Cruz and AOC completely agree on this shows you how unprecedented this all is.

It reveals that the whole "left vs. right" culture war is a massive sham designed to occupy and waste the all the plebian's attentions and get eyeballs on advertisers while the rich and powerful sit back and laugh.

And people already downvoting me...lol. Do you not realize you're just willing pawns?

Re: AOC considering hearing over RobinhoodApp decision to block purchasers of GME

#40

Post by kortilla »

philosopher1234 wrote: post #10
krapp wrote: post #8

Earlier quoted context omitted.

About that... https://twitter.com/AOC/status/1354848253729234944

AOC is such a firebrand. I love it. Not a lot of politicians who give me the sense that they're actually fighting for me.

How does that tweet make you think she is fighting for you and not just for publicity?
Post reply on HN