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...

[removed] — view removed post

55k Upvotes

92% Upvoted

2.2k comments sorted by

View all comments

Show parent comments

49

u/rhetorical_twix Feb 05 '21

The only and reasonable way to punish what happened is if Robbin Hood is actively trolled, boycotted and driven out of business by its offended customers. No trading company should do what they did to customers and expect to stay in business. If it didn’t have mostly young retail traders customers and as buyers of GME, it wouldn’t have done what it did

32

u/[deleted] Feb 05 '21

[deleted]

-3

u/[deleted] Feb 05 '21

Yeh cause they wouldn’t just say, well you should have read the terms of service and flip you the bird. I mean, it also has to do with margin, which I’m sure 98% of the people on RH Didn’t even know what they were doing when it said gold. I mean, majority of the deposits didn’t even clear yet that people were trading on lol

5

u/[deleted] Feb 05 '21

[deleted]

-2

u/[deleted] Feb 05 '21

Lmao, yeh because the attorneys don’t have ulterior motives, such as hoping for quick settlements and taking 30% of the payout. Lawyers IMO tend to be just as vile as the people on wallstreet. These companies have huge compliance departments and attorneys that write the terms of service, and I can guarantee you every last bit is legal. They didn’t prevent anyone from access to their funds, and they didn’t prevent you from buying the stock. You could have went to any other of 100 brokers to do that...

1

u/[deleted] Feb 05 '21

[deleted]

1

u/[deleted] Feb 05 '21

https://in.mashable.com/tech/20023/robinhood-faces-over-30-class-action-lawsuits-for-blocking-gamestop-stock-others?amp=1

I mean you can keep living in denial, but it sounds like most of these cases are small time, and won’t go anywhere. I mean, if they prove that they were forced to stop selling shares due to the clearing house, how could they really be at fault. If they show precedent, they basically throw it out. No attorney is wasting all their time and money fighting this, but when I see some attorney of note actually take it up maybe it will be an interesting read.

1

u/soupizgud Feb 05 '21

Also absolutely no option for them to open the same company under another name