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To: Melian

download from *where* please? And save it in which folder?


1,498 posted on 01/29/2021 7:36:52 AM PST by grey_whiskers (The opinions are solely those of the author and are subject to change with out notice.)
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To: grey_whiskers; Melian; bitt; ransomnote; Axenolith; reed13k; All
About Robinhood,that phone-app-stocktrading company, which forcibly sold people's shares of Gamestop against their will, at the low price of the day yesterday.

From Vox Day's blog:

https://voxday.blogspot.com/2021/01/breaking-robinhood.html

The GameStop investors will be able to go all Sheriff of Nottingham and easily bury Robinhood in arbitration if they wish, as it has the same insanely stupid ban on class arbitration incorporated into its terms of use that many tech firms do. Note that JAMS used to wisely mandate a class arbitration clause in its rules, but removed it in 2005 because the idiot tech corporations didn't want to risk losing in arbitration to all their users if they did something shady. Instead, the technocracy forced a system on everyone that can quite literally bankrupt them in order to save a little on potential litigation fees. The stupidity is epic-class.

Two observations:

Unlike AAA, FINRA has no rule allowing an arbitrator to declare an arbitration to be "frivolous", and furthermore, the right to file even frivolous arbitrations is protected by the Federal Arbitration Act and the Supreme Court rulings Steelworkers and Schein. Robinhood's terms of use specify California law. CCP Section 1284.3 prevents any consumer from being charged anything for an arbitration proceeding beyond the initial filing fee. "No neutral arbitrator or private arbitration company shall administer a consumer arbitration under any agreement or rule requiring that a consumer who is a party to the arbitration pay the fees and costs incurred by an opposing party if the consumer does not prevail in the arbitration, including, but not limited to, the fees and costs of the arbitrator, provider organization, attorney, or witnesses."

If this sounds like a foreign language to you, I strongly suggest reading Corporate Cancer, particularly chapters 8-10.

= = = = = = = =

Note:

Vox Day and a bunch of his people successfully chewed up another company in CA with individual binding arbitration on an *individual* basis, which was a condition the company itself had put into its own terms of use...

Can someone pass this along to the WallStreetBets people, in case they want to research the possibility?

1,506 posted on 01/29/2021 8:04:53 AM PST by grey_whiskers (The opinions are solely those of the author and are subject to change with out notice.)
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To: grey_whiskers

As I said, it was advice from qagg. He thinks he found a workaround.
Just thought you might find something useful in it.


1,517 posted on 01/29/2021 8:52:57 AM PST by Melian (Faithless is he that says farewell when the road darkens. ~ Gimli)
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