Banks gonna crash
(www.bloomberglaw.com)
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The phone of Robinhood's CEO has also been seized today in an ongoing investigation into their past trading halt on shares (during the run-up on GME's price in January). Interesting that news of both legal proceedings were released today.
oh shiiiiit, my GME is going to print, baby. I have 200 shares with an avg fill of $48.
Much love fellow ape, but please no positions. Let’s not freely give information during an information war. To the moon baby
pfft, just for this comment I'm grabbing a $220c at open.
how substantive is this?
Like, is it going to actually be prosecuted fully? Or is it more fake posturing?
If its for real.... ?
If true, it exposes a massive liability in the settlement of debt instruments and securities in the current market, to a measure of over $100 trillion.
It also details how the structure of the entire buying process is built in a way to favor the "dealers" (those that started it, more or less) so that they are always on top, making the most profit, and are also sheltered from the unsettled debt instruments (noted above).
Further, it alleges insider trading being a normal part of the process between the "dealers," giving them an even further, illegal, advantage over the rest of the market.
If this holds up in court, we will see some very big names busted for violating the Sherman act and associated crimes. I'll be keeping an eye on this, thanks u/Irishmeltdown
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