This is not a prosecution, just an investigation. The one he should be more worried about is:
> Massachusetts securities regulators have also issued a subpoena seeking Gill’s testimony.
Roaring Kitty to testify on GameStop alongside hedge fund managers
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Re: Roaring Kitty to testify on GameStop alongside hedge fund managers
#12It's interesting watching /r/wallstreetbets oscillate between "We did nothing wrong!" to "Well okay, some people were doing some things that were wrong, but hopefully no one will notice." https://www.reddit.com/r/wallstreetbets/comments/lj8djx/day_... (I don't personally believe that anyone did anything that should be prosecuted here, but what I believe is irrelevant to courts.) There is one thing that (in my un-humb…
The collateral requirement was imposed because of the incredibly high chance of the stock simply collapsing again.
Trading halts in response to massive movements aren't unusual either.
Re: Roaring Kitty to testify on GameStop alongside hedge fund managers
#13I realize this is just grandstanding by congress, but it feels like there are more important things to be working on right now.
> but it feels like there are more important things to be working on right now.
Institutions abusing the system is not important?
Re: Roaring Kitty to testify on GameStop alongside hedge fund managers
#14Why is the central offender - Depository Trust & Clearing Corporation - not going to be there?
Not sure why you are getting downvoted, DTCC played the major role in pulling the rug, they should be investigated.
Re: Roaring Kitty to testify on GameStop alongside hedge fund managers
#15It's interesting watching /r/wallstreetbets oscillate between "We did nothing wrong!" to "Well okay, some people were doing some things that were wrong, but hopefully no one will notice." https://www.reddit.com/r/wallstreetbets/comments/lj8djx/day_... (I don't personally believe that anyone did anything that should be prosecuted here, but what I believe is irrelevant to courts.) There is one thing that (in my un-humb…
The collateral requirement was imposed because of the incredibly high chance of the stock simply collapsing again. Trading halts in response to massive movements aren't unusual either.
Was a change in collateral requirement something that was known / codified in some agreement, or was it an ad-hoc decision?
Re: Roaring Kitty to testify on GameStop alongside hedge fund managers
#16It's interesting watching /r/wallstreetbets oscillate between "We did nothing wrong!" to "Well okay, some people were doing some things that were wrong, but hopefully no one will notice." https://www.reddit.com/r/wallstreetbets/comments/lj8djx/day_... (I don't personally believe that anyone did anything that should be prosecuted here, but what I believe is irrelevant to courts.) There is one thing that (in my un-humb…
NSCC collateral rules are widely believed to follow directly from Dodd-Frank requirements. It's also hard to understand the supposed conspiracy you'd be prosecuting NSCC for. Is the idea here that NSCC was somehow corrupted by agents of hedge funds short on GME?
Re: Roaring Kitty to testify on GameStop alongside hedge fund managers
#17RoaringKitty is also known as DeepFuckingValue. This name is probably more well known to the general public, but Reuters does not mention it.
Outside of WSB memes, how well known is DFV as a monicker vs roaring kitty. To the regular person, both are not household names. To anyone who is really invested in the story, they'd know both. The very small niche of people who know one but not the other isn't worth Reuters having to include profanity (not that I object to profanity).
Re: Roaring Kitty to testify on GameStop alongside hedge fund managers
#18Why is the central offender - Depository Trust & Clearing Corporation - not going to be there?
Because there were no offenders. DTCC raising collateral requirements on an ultravoltile stock with a high chance of price collapse is just... a reasonable thing to do?
Re: Roaring Kitty to testify on GameStop alongside hedge fund managers
#19Hey -- he likes the stock: https://www.reddit.com/r/wallstreetbets/comments/lj8djx/day_...
Nothing else matters.
Re: Roaring Kitty to testify on GameStop alongside hedge fund managers
#20I realize this is just grandstanding by congress, but it feels like there are more important things to be working on right now.
> but it feels like there are more important things to be working on right now. Institutions abusing the system is not important?
Important to rehash in political theater? No, it's not important.