| numberwang said: Warren attacks the "market manipulators" for their "speculation". Her letter makes clear she is going after those redditors. "To what extent did online message boards, such those on Reddit, or broader social media amplification impact the fluctuation of GameStop’s prices? Did any of these practices violate existing securities laws?" |
Seems like she is going after pretty much everyone, which is fair...
"With stocks soaring while millions are out of work and struggling to pay bills, it's not news that the stock market doesn't reflect our actual economy. For years, the same hedge funds, private equity firms, and wealthy investors dismayed by the GameStop trades have treated the stock market like their own personal casino while everyone else pays the price. It's long past time for the SEC and other financial regulators to wake up and do their jobs - and with a new administration and Democrats running Congress, I intend to make sure they do."
A big part of the what WSB is doing is abusing the tools used by the rich to expose fundamental market flaws. Seems to me like Warren's letter is pretty much in line with that idea. We want change, so I welcome this.
