[ExI] robin hood steals from the poor protects the rich?

[spike at rainier66.com]

Some of you investor hipsters, please explain it to me, for I really don't
get what happened today.

 

Robin Hood stopped short sellers in GameStop?  Why?  Aren't they just a
brokerage house?

 

That whole short selling business always seemed so crazy.  A bad guy could
short sell the hell outta Tesla, then get a Tesla, put it in her garage,
charge it to capacity, put some kind of incendiary device on it, car burns
up the evidence along with the car and the house, headlines the next day
sends the stock south, she covers her shorts, walks with enough cash to
cover the cost of the car and house.

 

I don't see why the whole notion of short selling wouldn't encourage that
kind of industrial sabotage.

 

Now watch some yahoo do exactly that, and the feds come looking for me for
giving her the idea.  Eeesh.  Prediction: if I can think of something like
that, people with a lotta money can think of it too.  So I predict something
like that will happen.  It can be something like a deep fake video of the
CEO of GameStop saying that he has become a religion guy and now believes
there are two different genders, that sorta thing.  We saw what that did to
Chik-fila.  It's far too easy to imagine.

 

spike

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.extropy.org/pipermail/extropy-chat/attachments/20210128/4020be3c/attachment.htm>