It is currently Sun Nov 24, 2024 12:25 pm

All times are UTC - 6 hours [ DST ]




Post new topic Reply to topic  [ 836 posts ]  Go to page Previous  1 ... 21, 22, 23, 24, 25, 26, 27, 28  Next
Author Message
 Post subject: Re: GameStop
PostPosted: Fri Jan 29, 2021 8:30 pm 
Offline
User avatar

Joined: Fri Jun 29, 2007 11:17 am
Posts: 72380
Location: Palatine
pizza_Place: Lou Malnatis
Jbi11s wrote:
That is your opinion.

My opinion is I agree with all 4.

Yes we are all giving our opinions here. I thought that was obvious.

But you agree it’s not the hedge funds faults they’re going under? Interesting take.

_________________
Fare you well, fare you well
I love you more than words can tell
Listen to the river sing sweet songs
To rock my soul


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Fri Jan 29, 2021 8:39 pm 
Offline
User avatar

Joined: Fri Jan 28, 2011 3:05 am
Posts: 28664
pizza_Place: Clamburger's
No it is their fault.

_________________
Nardi wrote:
Weird, I see Dolphin looking in my asshole


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Fri Jan 29, 2021 10:25 pm 
Online
User avatar

Joined: Fri Sep 18, 2020 8:05 pm
Posts: 24052
pizza_Place: Pizanos
Jbi11s wrote:
No it is their fault.

So they’re responsible for their decisions but the other three aren’t?

_________________
Peter Clavin wrote:
Because you are stupid, maybe read some books educate yourself.
Nardi wrote:
We walk, talk, and won't shit our pants


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Fri Jan 29, 2021 10:35 pm 
Offline
User avatar

Joined: Fri Jan 28, 2011 3:05 am
Posts: 28664
pizza_Place: Clamburger's
Image

_________________
Nardi wrote:
Weird, I see Dolphin looking in my asshole


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Fri Jan 29, 2021 10:56 pm 
Offline
User avatar

Joined: Fri Jan 28, 2011 3:05 am
Posts: 28664
pizza_Place: Clamburger's

_________________
Nardi wrote:
Weird, I see Dolphin looking in my asshole


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 7:08 am 
Offline
Site Admin
User avatar

Joined: Sun Apr 04, 2010 10:00 am
Posts: 79553
Location: Ravenswood Manor
pizza_Place: Pete's
Tall Midget wrote:
Joe Orr Road Rod wrote:
Dignified Rube wrote:
I suspect this is only going to escalate with silver being next to go a lot higher. People are completely fed up with the rigged game against them in the markets and with being forced to use a fiat currency that only devalues because of government money printing. If silver doesn't bust the system, people will next pull their deposits from the banks. Yes, we'll see bank runs.

Although he was kidding, JORR was right when he said this movement is the rise of the Prols.



I wasn't kidding.


I started saying this a few years ago here, and my observation has become more valid with each passing day: We are in the midst of a massive legitimacy crisis wherein our cornerstone social institutions and their leading figures are held in complete and utter contempt by vast sectors of the population.

From the perspective of political economy, this means that the neoliberal order is dead, but (as Zizek says) it just doesn't know it yet. Neoliberalism has failed, but nothing else has succeeded, so the neoliberal elites continue to operate as if "everything is generally good" (to borrow a Brickism) even as all that they once considered solid melts into air. It has become fashionable within the non-corporate media to say that the U.S. is approaching a state of civil war. But such a prognosis overstates the coherence of the current moment. Our society is not cleanly divided along a single line but is instead fractured into a kaleidoscope of antagonistic identities, competing interests and shifting alliances. This is simultaneously the end of something and the start of something, but nobody knows what just yet.


This is dead on and we should all be aware of the tactics the elite are using against us, primarily among them is identity politics that keep the lower classes at each other's throats. Their latest gambit is the "for your own good" argument.

https://currently.att.yahoo.com/att/bit ... 39031.html

Quote:
Personally, I’m not sure why people invest in those sorts of assets, but they see them as assets clearly. Our role is to make sure that consumers are protected.


Listen pal, we don't need you to worry about our crypto or to limit what stocks we can buy. Do you think we're so dumb that we can't see that your concern for us only arises when your power and/or wealth is threatened?

_________________
Anybody here seen my old friend Bobby?
Can you tell me where he's gone?
I thought I saw him walkin' up to The Hill
With Elon, Tulsi, and Don


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 8:31 am 
Offline
User avatar

Joined: Thu Jun 22, 2006 3:55 pm
Posts: 33067
Location: Wrigley
pizza_Place: Warren Buffet of Cock
Behind a WSJ paywall. I will try to post the full article later when I am at my desktop. I learned a bunch about the capital strain for brokerage firms from it. Explains the issue on the trading halts.

https://www.wsj.com/articles/robinhood- ... 504?page=1

_________________
Hawaii (fuck) You


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 8:46 am 
Offline

Joined: Fri Oct 24, 2008 10:28 am
Posts: 4047
denisdman wrote:
Behind a WSJ paywall. I will try to post the full article later when I am at my desktop. I learned a bunch about the capital strain for brokerage firms from it. Explains the issue on the trading halts.

https://www.wsj.com/articles/robinhood- ... 504?page=1



Couldn’t finish because of paywall, but if Robinhood is taking the position that they aren’t financially capable of executing their business model without ad hoc surprise stoppages in trading for certain securities who would ever trade with them. Maybe i’m Not trading GME, but tomorrow they could stop trading what I trade. I would think Robinhood would have experienced a mass exodus of customers, but that doesn’t seem to be the case.


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 9:37 am 
Offline
User avatar

Joined: Thu Jun 22, 2006 3:55 pm
Posts: 33067
Location: Wrigley
pizza_Place: Warren Buffet of Cock
Victim of their own popularity. They gained 500,000 customers this week, it said. I did not realize the brokerages had to put up collateral until the trades clear. I knew they had capital requirements because I have read a lot of auditeds of broker dealers. Trades clear so fast in my own account but I guess it still takes time on the back end....

_________________
Hawaii (fuck) You


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 9:52 am 
Offline
User avatar

Joined: Thu Sep 30, 2010 3:40 pm
Posts: 16475
pizza_Place: Boni Vino
Citadel probably could have floated Robinhood the funds to pay DTC, but then that would've hurt Melvin Capital, which Citadel now has a piece of. So yeah, while technically it's a clearinghouse issue and I'm sure that's what RH will tell Congress, there were solutions available.

_________________
To IkeSouth, bigfan wrote:
Are you stoned or pissed off, or both, when you create these postings?


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 9:53 am 
Offline
Site Admin
User avatar

Joined: Wed Jun 08, 2005 6:45 pm
Posts: 38332
Location: Lovetron
pizza_Place: Malnati's
Joe Orr Road Rod wrote:
Tall Midget wrote:
Joe Orr Road Rod wrote:
Dignified Rube wrote:
I suspect this is only going to escalate with silver being next to go a lot higher. People are completely fed up with the rigged game against them in the markets and with being forced to use a fiat currency that only devalues because of government money printing. If silver doesn't bust the system, people will next pull their deposits from the banks. Yes, we'll see bank runs.

Although he was kidding, JORR was right when he said this movement is the rise of the Prols.



I wasn't kidding.


I started saying this a few years ago here, and my observation has become more valid with each passing day: We are in the midst of a massive legitimacy crisis wherein our cornerstone social institutions and their leading figures are held in complete and utter contempt by vast sectors of the population.

From the perspective of political economy, this means that the neoliberal order is dead, but (as Zizek says) it just doesn't know it yet. Neoliberalism has failed, but nothing else has succeeded, so the neoliberal elites continue to operate as if "everything is generally good" (to borrow a Brickism) even as all that they once considered solid melts into air. It has become fashionable within the non-corporate media to say that the U.S. is approaching a state of civil war. But such a prognosis overstates the coherence of the current moment. Our society is not cleanly divided along a single line but is instead fractured into a kaleidoscope of antagonistic identities, competing interests and shifting alliances. This is simultaneously the end of something and the start of something, but nobody knows what just yet.


This is dead on and we should all be aware of the tactics the elite are using against us, primarily among them is identity politics that keep the lower classes at each other's throats. Their latest gambit is the "for your own good" argument.

https://currently.att.yahoo.com/att/bit ... 39031.html

Quote:
Personally, I’m not sure why people invest in those sorts of assets, but they see them as assets clearly. Our role is to make sure that consumers are protected.


Listen pal, we don't need you to worry about our crypto or to limit what stocks we can buy. Do you think we're so dumb that we can't see that your concern for us only arises when your power and/or wealth is threatened?


Who still had confidence in the system after the 2008 bail out of the wealthy?

Seriously? This is not some creation over the last couple of years

_________________
Joe Orr Road Rod wrote:
The victims are the American People and the Republic itself.


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 9:55 am 
Offline
User avatar

Joined: Sat Dec 02, 2017 2:45 pm
Posts: 690
pizza_Place: My own
denisdman wrote:
Behind a WSJ paywall. I will try to post the full article later when I am at my desktop. I learned a bunch about the capital strain for brokerage firms from it. Explains the issue on the trading halts.

https://www.wsj.com/articles/robinhood- ... 504?page=1


And you believe this is the only reason they stopped (only) the purchase of 5 stocks? How naive can you possibly be on this?

They absolutely had options that did not include fucking their customers as hard as they could.


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 9:56 am 
Offline
User avatar

Joined: Sat Dec 02, 2017 2:45 pm
Posts: 690
pizza_Place: My own
denisdman wrote:
Victim of their own popularity. They gained 500,000 customers this week, it said. I did not realize the brokerages had to put up collateral until the trades clear. I knew they had capital requirements because I have read a lot of auditeds of broker dealers. Trades clear so fast in my own account but I guess it still takes time on the back end....


Lol


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 10:00 am 
Offline
User avatar

Joined: Sat Dec 02, 2017 2:45 pm
Posts: 690
pizza_Place: My own
Maybe next Robin Hood will tell us that they sold people's shares without their consent because they were hacked.


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 10:36 am 
Offline
Site Admin
User avatar

Joined: Wed Jun 08, 2005 6:45 pm
Posts: 38332
Location: Lovetron
pizza_Place: Malnati's
storkinastorm wrote:
Maybe next Robin Hood will tell us that they sold people's shares without their consent because they were hacked.


I'm curious stork, does Robinhood's terms of service allow them to sell your shares without your consent?

_________________
Joe Orr Road Rod wrote:
The victims are the American People and the Republic itself.


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 10:38 am 
Offline
Site Admin
User avatar

Joined: Wed Jun 08, 2005 6:45 pm
Posts: 38332
Location: Lovetron
pizza_Place: Malnati's
https://www.wsj.com/articles/robinhood- ... 504?page=1

Robinhood Markets Inc. raised more than $1 billion to help meet rising demands for cash stemming from frenzied trading in hot stocks like GameStop Corp. GME 67.87% , which rose sharply Friday to end the week up 400%.

Robinhood and other brokerages in recent days have experienced a surge in trading volume in a small number of stocks, prompting the clearinghouses that help process and settle trades to ask them for more cash to cover the transactions.

Thursday’s fundraising came together in a matter of hours after Robinhood received an early morning message from a clearinghouse asking for a sharp increase in deposits for that day’s trading, according to people familiar with the matter. While Robinhood executives felt they had the resources to cover that request, they worried that similarly high increases in the ensuing days could potentially strain the company’s finances, the people said.


A decision was made to restrict trading in about a dozen hot stocks and shore up the company’s finances. Robinhood also borrowed roughly $500 million from its banks this week, the people said.

“Part of the mechanics of what makes this difficult is things go viral on social media, and increases like that can be exponential,” Robinhood Chief Executive Vlad Tenev said of the trading restrictions in an interview late Thursday. “With something exponential, things can change very, very quickly. Part of this was also anticipatory in nature.”

The Securities and Exchange Commission said Friday it plans to closely review the actions of Robinhood and other brokerage firms that restricted investors’ ability to trade volatile stocks such as GameStop this week.

The Robinhood funding deal capped a strange week in the markets, when an army of regular investors piled into a handful of heavily shorted stocks—sending their prices up sharply and dealing painful losses to some hedge funds that were betting the shares would fall. GameStop, the stock that kicked off the retail frenzy, rose 68% Friday to end the week at $325. When 2021 began, the stock was under $20.

The episode caused one battered short seller to call it quits. Andrew Left, founder of Citron Research, said Friday his firm will no longer publish short-seller reports and instead will pivot to providing insight into companies the firm thinks investors should buy.

The effects rippled beyond stocks. Robinhood on Friday cited “extraordinary market conditions” for temporarily turning off instant buying power for cryptocurrencies including bitcoin, a day after its decision to restrict trading in popular stocks drew widespread complaints.

The funding deal was structured as a note that conveys the option to buy additional shares at a discount later, some of the people said. More than a dozen existing Robinhood investors participated in the Thursday capital infusion, one of the people said.

There was excess investor demand, and Robinhood is considering raising hundreds of millions of dollars more in the coming days or weeks, some of the people said.

Robinhood’s popularity is at once a blessing and a curse. Hardcore and casual investors alike have thronged together in online forums, including Reddit’s WallStreetBets, planning coordinated stock buys and encouraging one another to upset the Wall Street status quo. They did a lot of their trading on Robinhood, which added more than 500,000 new accounts in recent days, according to people familiar with the matter, and zoomed to the top of the Apple Inc. app store.

Users were drawn to Robinhood’s mission to bring investing to the masses by eliminating obvious barriers like trading commissions. But there are other, less visible barriers over which Robinhood has no control. Many customers aren’t aware of the complicated machinery behind each trade, only a portion of which Robinhood manages. And regulators and industry watchdogs decide things like how much capital and collateral brokerages have to post.

The company’s move to restrict trading in GameStop and other volatile stocks was a fallback option after previous maneuvers, including prohibiting users from buying those stocks with borrowed money, failed to tamp down risky trading, according to a person familiar with the matter. Yet it enraged many users, who took it as evidence that Wall Street was closing ranks to shut out small-time investors.

Behind the scenes, Robinhood and other brokers were dealing with a jam in the machine that moves shares from sellers to buyers.

Because of a lag between when investors book new positions in a stock and when their cash is actually exchanged for securities, brokerages like Robinhood have to maintain deposit accounts at the clearing firms that help finalize trades. The Depository Trust & Clearing Corp., which operates the main clearinghouse for U.S. stock trades, requires brokerages to post more of their own money in riskier times to insure against losses.


Robinhood’s swelling popularity combined with the trading boom to prompt an unprecedented increase in Robinhood’s deposit requirements. In a blog post late Friday, Robinhood said its deposit requirements related to equities rose 10-fold this week. Volatile individual securities accounted for “hundreds of millions of dollars” of the increase, the company said.

Industrywide, collateral requirements rose to $33.5 billion from $26 billion Thursday, DTCC said, an increase of nearly 30%. DTCC, which is owned by Wall Street banks and other firms that use its services, clears more than $1 trillion in stock trades daily.

The dynamic is particularly troublesome for Robinhood. Although it is one of Silicon Valley’s hottest startups, valued at nearly $12 billion in a fundraising round in August, Robinhood lacks the financial might of some rivals. Charles Schwab Corp. and E*Trade Financial Corp. own deposit-taking banks and have more sources of revenue than Robinhood, which is more reliant on trading activity.

On Friday morning, Robinhood allowed purchases in 13 sought-after stocks in limited increments. But the company fiddled with the limits throughout the day. By the evening, the company had placed restrictions on 51 stocks, limiting users to one share purchase for the majority of them. (For customers whose current positions in those stocks exceed the new limits, Robinhood won’t require them to sell, but also won’t allow them to buy more.)




Joe Fraulino, a machinist from Connecticut, pulled about $20,000 from his Robinhood account on Thursday. About half was in the securities Robinhood has restricted.


“It’s basically stealing,” said Mr. Fraulino, 26. “You’re allowing people to sell something but not buy it. It’s like playing a football game and giving the losing team an extra 20 minutes. They’re making the rules up as they go.”

He placed most of the funds in Webull Financial LLC, a competing investment app that also briefly restricted some trading Thursday. He has received a handful of free shares by inviting a few friends to sign up. Mr. Fraulino is still using Robinhood, but only to trade Dogecoin, a meme-inspired cryptocurrency promoted by Tesla CEO Elon Musk.

Lawmakers on both sides of the aisle have questioned Robinhood’s decision to restrict trading. Rep. Alexandria Ocasio-Cortez (D., N.Y.) called the move “unacceptable” and said she would support a congressional hearing to examine it.

Robinhood has faced complaints about its treatment of customers in the past—but for very different reasons. Massachusetts securities regulators last month accused it of aggressively marketing to inexperienced customers and failing to implement controls to protect them. In a response to the Massachusetts complaint filed late Friday, the company denied the allegations and said it has helped open the door to investing to millions of people.

“The irony isn’t lost on me that we’re in some ways having the opposite type of conversation than we typically had” with critics, Mr. Tenev said in the Thursday interview. “Up until about a month ago, it was, ‘Are there too few barriers?’…Now it’s all about, ‘Why did you guys put these restrictions?’ It’s a strange situation.”

_________________
Joe Orr Road Rod wrote:
The victims are the American People and the Republic itself.


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 10:40 am 
Offline
User avatar

Joined: Wed Jun 21, 2006 6:57 pm
Posts: 92044
Location: To the left of my post
The problem with the excuse is that you could still buy virtually every stock that exists besides the ones that just so happened to be the ones that were being used to hurt the people they rely on to stay in business.

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 10:43 am 
Offline
User avatar

Joined: Sat Dec 02, 2017 2:45 pm
Posts: 690
pizza_Place: My own
Seacrest wrote:
storkinastorm wrote:
Maybe next Robin Hood will tell us that they sold people's shares without their consent because they were hacked.


I'm curious stork, does Robinhood's terms of service allow them to sell your shares without your consent?


I'm going to guess no on that one, Mr. Seacrest.


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 10:49 am 
Offline
User avatar

Joined: Sat Dec 02, 2017 2:45 pm
Posts: 690
pizza_Place: My own
The GME thing may go down as a turning point in our history.

The tone, even on social media, is changing.

The People are starting to understand that this is one big game and that our differences are used to divide us.

There was someone on Twitter this morning trying to label the Reddit crew as a bunch of "white men," and there were MULTIPLE Leftists telling them to knock it off. Even a few people making remarks about how they are starting to realize how much race and politics is used to do nothing but divide.

There is hope.


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 10:51 am 
Offline
User avatar

Joined: Fri Jan 28, 2011 3:05 am
Posts: 28664
pizza_Place: Clamburger's
:lol:

Sara Eisen


_________________
Nardi wrote:
Weird, I see Dolphin looking in my asshole


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 11:07 am 
Offline

Joined: Thu Jun 22, 2006 6:46 pm
Posts: 33813
pizza_Place: Gioacchino's
What does she mean by wealth tax? Didn't that, at one point in her campaign, include assets? And how does that work for small business?


I find that top 1% pay 3% in tax a little misleading. I think some top 25% of tax payers pay 85% of taxes and 1% is around 40%. How much should they be covering, 60%? It won't cover what they want to pay for either.

It floors me that close to 50% doesn't pay taxes but understand most are old people.


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 11:15 am 
Offline
User avatar

Joined: Fri Jan 28, 2011 3:05 am
Posts: 28664
pizza_Place: Clamburger's
Stop making excuses for the top .01%

_________________
Nardi wrote:
Weird, I see Dolphin looking in my asshole


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 11:34 am 
Offline
User avatar

Joined: Thu Sep 30, 2010 3:40 pm
Posts: 16475
pizza_Place: Boni Vino
Jbi11s wrote:
:lol:

Sara Eisen



Sara Eisen knows more about markets than Elizabeth Warren.

_________________
To IkeSouth, bigfan wrote:
Are you stoned or pissed off, or both, when you create these postings?


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 11:47 am 
Offline
User avatar

Joined: Fri Jan 28, 2011 3:05 am
Posts: 28664
pizza_Place: Clamburger's
Honestly, after this past week that is very debatable.

Still would tho.

_________________
Nardi wrote:
Weird, I see Dolphin looking in my asshole


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 11:59 am 
Offline
User avatar

Joined: Tue Mar 24, 2015 9:46 pm
Posts: 10107
pizza_Place: Q's Hillside
This whole thing is oddly reminiscent of the final parade scenes in Animal House. In a good way.

I didn't get in on any of this because I tend to take the position that by the time someone like me hears about some momentum or arbitrage situation, it is too late. Several of my friends who live for consumer arbitrage have paid for nice vacations in the past week, they are already in and mostly out at the profit they needed, and are free rolling the last bit of their positions. They are mostly ride or die at this point with that remaining position.

What is interesting is that these friends totally cover today's political landscape, even though they are all white men 40-60. Some are very libertarian, some are progressives who like The Squad and want confiscatory taxes on the top 0.5%. All are what you would call solidly upper middle class, but none of them has a home worth more than about $450k.

_________________
"When people want their version of the truth, they go find it, no matter how baseless their beliefs." -- Ken Rosenthal


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 12:12 pm 
Offline
User avatar

Joined: Thu Jun 22, 2006 3:55 pm
Posts: 33067
Location: Wrigley
pizza_Place: Warren Buffet of Cock
storkinastorm wrote:
denisdman wrote:
Victim of their own popularity. They gained 500,000 customers this week, it said. I did not realize the brokerages had to put up collateral until the trades clear. I knew they had capital requirements because I have read a lot of auditeds of broker dealers. Trades clear so fast in my own account but I guess it still takes time on the back end....


Lol


Read the article (thanks crest) and believe what you want.

_________________
Hawaii (fuck) You


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 12:16 pm 
Offline
User avatar

Joined: Thu Jun 22, 2006 3:55 pm
Posts: 33067
Location: Wrigley
pizza_Place: Warren Buffet of Cock
Spaulding wrote:
What does she mean by wealth tax? Didn't that, at one point in her campaign, include assets? And how does that work for small business?


I find that top 1% pay 3% in tax a little misleading. I think some top 25% of tax payers pay 85% of taxes and 1% is around 40%. How much should they be covering, 60%? It won't cover what they want to pay for either.

It floors me that close to 50% doesn't pay taxes but understand most are old people.


W2 employees have no way around federal income tax. People, like Buffett and Bezos, have their entire wealth and 99%+ of their “income” tied up in company stock. There is unlimited deferral of tens of billions for each of them in capital gains. Buffett will never be taxed on it. He has pledged to give it all away when he dies. If given to charity, it will never be taxed.

_________________
Hawaii (fuck) You


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 12:35 pm 
Offline
User avatar

Joined: Sat Dec 02, 2017 2:45 pm
Posts: 690
pizza_Place: My own
The answer is not "increased taxes." That would create an even larger barrier to entry for retail investors. I hope people like Warren don't all default to these talking points that impact working Americans more than they would do anything.

Elizabeth, you can start with term limits and end with laws disallowing people in Federal bureaucracies from going right back into the private system where they came from. If someone is getting $800,000 for a speaking fee with one of these organizations, they are not fit to then "govern" (unelected) these organizations. But Elizabeth Warren won't do that because she is part of that system.

This has to be the populist politicians on both sides leading the charge.


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 12:36 pm 
Offline
User avatar

Joined: Thu Oct 18, 2012 9:33 pm
Posts: 19044
pizza_Place: World Famous Pizza
Would be cool if GameStop of all things forever changes America.

_________________
Seacrest wrote:
The menstrual cycle changes among Hassidic Jewish women was something as well.


Top
 Profile  
 
 Post subject: Re: GameStop
PostPosted: Sat Jan 30, 2021 12:37 pm 
Offline
User avatar

Joined: Sat Dec 02, 2017 2:45 pm
Posts: 690
pizza_Place: My own
denisdman wrote:
storkinastorm wrote:
denisdman wrote:
Victim of their own popularity. They gained 500,000 customers this week, it said. I did not realize the brokerages had to put up collateral until the trades clear. I knew they had capital requirements because I have read a lot of auditeds of broker dealers. Trades clear so fast in my own account but I guess it still takes time on the back end....


Lol


Read the article (thanks crest) and believe what you want.


It's not wrong," per se. It just leaves out quite a bit and doesn't explore what other options they had.

Just joshing you a bit, sir.


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 836 posts ]  Go to page Previous  1 ... 21, 22, 23, 24, 25, 26, 27, 28  Next

All times are UTC - 6 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 10 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Search for:
Jump to:  
Powered by phpBB® Forum Software © phpBB Group