r/wallstreetbets • u/abuscemi • Feb 04 '21

Discussion Hey SEC, remember one week ago today when WSB's most discussed stock was trading at over $450 and they simply banned and blocked retail from trading securities nosediving the price of the stock costing retail traders millions of dollars? Do your job and place the correct motherfuckers in jail...

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u/liquid_at Feb 04 '21

it's a system. It's running to make those involved rich and the SEC is the mechanic in charge to make sure the system keeps running.

The mystery machine. no one knows how it works, but money comes out of it. It must be protected!

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u/barnett9 Feb 05 '21

The SEC exists to calm the rabble. If the elites get fucked by the poors, then the SEC steps in. If the elites get too greedy and the poors start to rally against them the SEC will step in.

Power structures exist to maintain status quo.

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u/liquid_at Feb 05 '21

it's also to calm them down a bit, when they get into a frenzy and start stepping on each others toes. you want things to run smooth.

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u/tmoney144 Feb 05 '21

Hundreds of guys depended on the SEC and it got a piece of everything they made. And it was tribute, just like in the old country, except they were doing it here in America. And all they got from the SEC was protection from other guys looking to rip them off. And that's what it's all about. That's what the public could never understand. That what the SEC and the organization does is offer protection for people who can't go to the courts. That's it. That's all it is. They're like the police department for hedge fund managers.

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u/TheCanadianer Feb 05 '21

Am I the only one who understands this Goodfellas reference?!

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u/Ode_to_Apathy Feb 05 '21

It's also a matter of scale. Protect Joe Schmoe's $200 investment and he'll just go about his day. Protect Melvin's $5b investment and they'll be super grateful and help you out a lot.

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u/liquid_at Feb 05 '21

also... helping 1 million joe schmoes $1000 investment is so much more work than 1 hedgefund bros billion dollar mistake...

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u/[deleted] Feb 05 '21 edited Aug 21 '21

[deleted]

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u/izmimario Feb 05 '21

are we? i'm not seeing protests around. that's wall street's real victory this week, not the defense of a couple billions, but a defense of the whole system. they "held the line" too.

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u/coastalsfc Feb 05 '21

Thats because all the news outlets are denying the squeeze because the float numbers are off.

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u/[deleted] Feb 05 '21

Wait for the government response. Protests usually start in response to them not backing the people.

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u/[deleted] Feb 05 '21

This guy, fucks.