21–30 of 216 posts
What did Gill do that was illegal?
It'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.
It'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?
To turn it around: should they have the authority to enforce a 33.3x collateral increase with no oversight simply because they feel it's necessary for the world to stop trading GME? This is the heart of what I hope will be regulated.
BTW, playing whiskey slaps was fun. It was nice to see the crazy pentester world, even if I had wrong expectations going in. Hope you've been well!
It'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…
I'm not sure if anyone from wsb should be prosecuted; but I will say that if another hedge fund had tried to do what wsb did, it would have been clearly and unambiguously illegal market manipulation.
I do think it is quite likely there were some financial professionals posting on wsb that were breaching some laws or technical requirements. I have no evidence, but I would not be surprised.
Earlier quoted context omitted.
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.
I've only been sorta paying attention so i could be wrong but trades were not suspended or halted? only buying was prevented, and only for some brokerages?
Trades by certain brokers or apps were also notably halted on a Thursday due to lack of liquidity.
Earlier quoted context omitted.
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?
Nah, no conspiracy. I just don't like that they can change their collateral requirement from 3% to 100% for specific stocks in one day, regardless of the reasons. To turn it around: should they have the authority to enforce a 33.3x collateral increase with no oversight simply because they feel it's necessary for the world to stop trading GME? This is the heart of what I hope will be regulated. BTW, playing whiskey sl…
It'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…
Why 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?
Earlier quoted context omitted.
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.
I've only been sorta paying attention so i could be wrong but trades were not suspended or halted? only buying was prevented, and only for some brokerages?