So that Reddit Robinhood GameStop Stock Thing

[Prokofy Neva]

Reminds me of griefers in SL.

You know the kind, from certain West coast commuter schools, claiming that when they crash a sim or harass you with Bill Cosby Jello particles that this is "academic freedom" and "study" and "not racism" and perhaps at worst "transgressive behaviour" that we should just "study".

Then the Lindens come and take their island away, I'm blamed merely because I abuse report them, and Chronicle of Higher Education writes a think piece about suppression of academic freedom by evil Silicon Valley companies.

You know?

It's like that.

 

[sirhc DeSantis]

Had not read that CHE thing before now so thx 4 dat. As to the rest? No comment

[Chaser Zaks]

Wall street: OH NO, MY HEDGE!

[Dragon Mommy]

I don't understand how the comparison applies. 🤔

[Rowan Amore]

Huh?

[Ceka Cianci]

Ermagerd erts ther Berg shert erl erver ergern.

[Fae Blossom]

Me trying to understand this

[Solar Legion]

1 hour ago, Bitterthorn said:

I don't understand how the comparison applies. 🤔

 

1 hour ago, RowanMinx said:

Huh?

 

21 minutes ago, stellarissima said:

Me trying to understand this

Combining all three above because the response is more or less universal: There's nothing to understand or make sense of beyond the OP trying to correlate their own experience to a completely unrelated event in an effort to seek agreement or vindication for their skewed viewpoint/beliefs.

[Arduenn Schwartzman]

Wall Street allows gambling for money. SL does not. The analogy is moot.

Edited January 29, 2021 by Arduenn Schwartzman

[Paul Hexem]

Yeah, I'm confused. 

[Annalise Evergarden]

[Solar Legion]

1 hour ago, Arduenn Schwartzman said:

Wall Street allows gambling for money. SL does not. The analogy is moot.

Correction: There is no analogy.

[Garnet Psaltery]

[LittleMe Jewell]

I applaud the Reddit folks.

 

No comparison to SL griefers at all, or SL anything else.

 

 

[Odaks]

Isthay akesmay erfectpay enseay otay emay.

"Oodgay itshay, anmay!"

 

(Answers on a postcard by last Thursday. The first correct solution drawn at random will be named and shamed.)

[Bree Giffen]

Destroy those hedge fund vultures!

[Kimmi Zehetbauer]

Waiting for this thread to fall into file13.

[Tari Landar]

 

although, I'm pretty sure this one fits the subject matter a bit better, it's a whole lotta wtf too 

[Jackson Redstar]

i had to read up on this cause i had no idea wtf all the news was about. It is one thing that has always bothered me about the stock market - "betting" on stocks losing value then making tons of money on that. But when you 'short' stocks and the stock gains your bet is called and you have to pay up, and when its a hedge fund, that could be in the billions

So apparently a bunch of people got wind the hedge fund was shorting game stop - so they all started getting together to buy up shares driving up the price of the stock. Nothing ilegal there. But right before the hedge fund was due to have their shorts called, they got the retailers 'day traders' and apps to stop buy orders for the stocks and could only hold or sell - which of course drives down the price of the stock and saves the hedge fund billions in losses. When you're billionaires, its nice to have friends in high places! so in a nutshell its a david vs golith story. Only in the bible golith loses, but in this case, golith called in some favors to save his ass!

[Gage Wirefly]

1 hour ago, LittleMe Jewell said:

I applaud the Reddit folks.

 

No comparison to SL griefers at all, or SL anything else.

 

 

This.

[Gage Wirefly]

32 minutes ago, Jackson Redstar said:

i had to read up on this cause i had no idea wtf all the news was about. It is one thing that has always bothered me about the stock market - "betting" on stocks losing value then making tons of money on that. But when you 'short' stocks and the stock gains your bet is called and you have to pay up, and when its a hedge fund, that could be in the billions

So apparently a bunch of people got wind the hedge fund was shorting game stop - so they all started getting together to buy up shares driving up the price of the stock. Nothing ilegal there. But right before the hedge fund was due to have their shorts called, they got the retailers 'day traders' and apps to stop buy orders for the stocks and could only hold or sell - which of course drives down the price of the stock and saves the hedge fund billions in losses. When you're billionaires, its nice to have friends in high places! so in a nutshell its a david vs golith story. Only in the bible golith loses, but in this case, golith called in some favors to save his ass!

What these funds and apps are doing in the aftermath is clear market manipulation which is illegal and they are getting away with it right in front of everyone.

[ValKalAstra]

33 minutes ago, Gage Wirefly said:

What these funds and apps are doing in the aftermath is clear market manipulation which is illegal and they are getting away with it right in front of everyone.

That is still to be seen. It's fascinating how this has brought together sworn political enemies from across the globe. It feels like everyone knows a story or two about hedge locusts and during a time of high division, their blatant manipulation has made them the convenient "enemy of my enemy" for some.

[LibGwen]

Prokofy Neva's comparison is apt.

Some wealthy guys decided to see if they could influence the stock market and found that they could.  But it caused such a big effect it triggered safeties.  They are claiming those safeties shouldn't apply to them, because, er, rules shouldn't apply to people like them.  Sound familiar?

 

[Fae Blossom]

1 hour ago, Jackson Redstar said:

i had to read up on this cause i had no idea wtf all the news was about. It is one thing that has always bothered me about the stock market - "betting" on stocks losing value then making tons of money on that. But when you 'short' stocks and the stock gains your bet is called and you have to pay up, and when its a hedge fund, that could be in the billions

So apparently a bunch of people got wind the hedge fund was shorting game stop - so they all started getting together to buy up shares driving up the price of the stock. Nothing ilegal there. But right before the hedge fund was due to have their shorts called, they got the retailers 'day traders' and apps to stop buy orders for the stocks and could only hold or sell - which of course drives down the price of the stock and saves the hedge fund billions in losses. When you're billionaires, its nice to have friends in high places! so in a nutshell its a david vs golith story. Only in the bible golith loses, but in this case, golith called in some favors to save his ass!

*Goliath, and good summary.

 

The rich getting richer and doing whatever the ***** they want, because they are obviously above the law. A jester who thinks we left serfdom behind us.

[Extrude Ragu]

WSB as far as I know is both the left and right it is not political. Just people who hold a resentment against hedge funds as they were responsible for betting away the economy in the past. 

Looks to me like they are *****tin bricks now that they've been shown that ordinary people can manipulate the market too and make them lose all their money. 

Of course the media is going to try to paint it as a culture war, it gets clicks and they're sweating bullets that something actually united the left and the right against a common enemy.