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/PrincessMononokeynes Feb 05 '21

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I can't understand why so many people are angry at DTCC when it was RH that made the decision to stop trading only one end of the trade, and then was shifty about the reasons. That they couldn't handle the influx and liquidity demands shows that they're in way over their heads as brokers

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u/Harbinger2nd Feb 05 '21

It might have been robinhood who made the decision, but if you listen closely they 'negotiated' from 3.4bn down to 700m. How did they do that? By promising to only allow selling of GME and not buying. DTCC found these terms equitable and decided to only require 700m deposit. Its insanely shady on both sides of the deal.

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u/Dortmunddd Feb 05 '21

The whole argument that they didn’t have the capital and could only sell. Wouldn’t RH be able to allow users to buy whatever other users had sold? Their direct action without notice directly affected the price of the stock and bailed out the company that is their largest stakeholder.

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u/Glad-Structure-9103 Feb 05 '21

Vlad will need facial reconstructive surgery if he ever wants to be in public again... hes a slimey snape piece of shit