Posted on 01/29/2021 12:05:04 PM PST by fuzzylogic
I logged into my bank account and saw a message not seen before - timing is curious, "Alert: Comerica Bank does not currently allow the use of debit cards or web or mobile banking services for use with online gambling sites. Attempting to use these sites may result in your debit card or web banking being temporarily disabled."
Or the lottery.🤔
No. It’s only good business that if someone is paying 160x the value of a stock you don’t lend money to them so they can do so. That is one of the bad business practices that led to the Great Depression and caused the banking system to collapse.
I am not sure you understand.
In the digital age it is ridiculously easy to circumvent any rules with straw buyers (whether individual or institutional).
We are not in the 1920s anymore.
This will not be fixed because it _cannot_ be fixed—without shutting down markets completely.
The kleptocrats created a monster that is out of control.
This market-index no thrills non gambling ‘get rich slowly’ investor LOVE seeing those SOB bastard short sellers and the margin users getting hammered; it’s like watching a crappy driver who cuts you off slam into a telephone pole.
Risk sucks. Short sellers suck more and I’ll gleefully laugh to see anyone who has shorted a company holding a ‘will work for food’ sign. A pox on all volatility and those who create or thrive on it.
I agree with that. But if I’m Robinhood, I ought to know if they are borrowing from me. And I ought to be able to stop it.
Robinhood was the classic “pigs get fat, and hogs get slaughtered”.
There are lots more where they came from...
On the bright side I suspect that the hedge funds will be a little less reckless in the future. Even if this destabilizes the market you could make the argument that it will be good for the economy because it is moving money out of the stock market and into the economy at large, which is where it is really needed anyway.
Your post makes no sense. Can you add context or background to what it means?
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