In 2021 robinhood was not even connected to the lit exchange and they didn't own any shares on buyers behalf. They figured out retail loses 51% of the time so they just did payment for order flow and kept the 1%
I wonder if the Robinhood crooks and their cronies will get prosecuted.
Trump will certainly have a special interest in that one.
I have heard of other "brokers" who watch the accounts of their customers, figure out which ones usually lose versus which ones win, and then they just put through the orders on the winners' trades, and act as the bookie on the losers' trades.
I don't know if anyone has been prosecuted for such fraud, though.
Even worse, hedge funds will short a company into bankruptcy, and never have to buy back the shares. Because the position was never closed they never pay tax on their gains.
Stockholders lose and workers lose their jobs, and hedge fuks buy a bigger yacht.
If they pissed on the Towle man most everyone hear will cheer them on. Talk about rooting for the enemy.....
Gary is the chairman of the SEC.
Read the link.
It's not a secret when he confirms it.
In 2021 robinhood was not even connected to the lit exchange and they didn't own any shares on buyers behalf. They figured out retail loses 51% of the time so they just did payment for order flow and kept the 1%
Interesting.
I wonder if the Robinhood crooks and their cronies will get prosecuted.
Trump will certainly have a special interest in that one.
I have heard of other "brokers" who watch the accounts of their customers, figure out which ones usually lose versus which ones win, and then they just put through the orders on the winners' trades, and act as the bookie on the losers' trades.
I don't know if anyone has been prosecuted for such fraud, though.
Wow. And I thought HFT fuckery was grade A assholery.
This (what robinhood did) is next level satanic khazarian money magic. So basically not even a broker, just a relay of sorts.
"Capitalism" (lol).
Even worse, hedge funds will short a company into bankruptcy, and never have to buy back the shares. Because the position was never closed they never pay tax on their gains. Stockholders lose and workers lose their jobs, and hedge fuks buy a bigger yacht.
If they pissed on the Towle man most everyone hear will cheer them on. Talk about rooting for the enemy.....