@MuchasSmoochas
Well all my meme stocks are doing very well. If you want to talk about collusion, how about analysts’ downgrades that allow them to swoop in at lower prices? What about IPOs where retail investors can’t get in and the stock shoots up on first day of trading? Or the short attacks on direct public offerings where the ultra rich have not been able to get in first?
I'm not saying the current financial regulations are moral of right. Nor am I even saying that they are followed or even enforced.
All I was pointing out was that there are trillions of dollars of very powerful interests, an entire banking industry, and many countries economies invested in making sure the status quo is maintained and operates in a way keeps economies stable and liquid.
They have mechanisms in place to restore the system, and Robinhood may get a public slap on the wrist and lose 8% of their profits this year. Citadel will then make a reciprocal investment in the company to placate shareholders, everyone will get their bonuses, everyone will get their dividends, and everyone will be happy. That is how the system works.
If that system is threatened by a minority outside of the system, it will be stamped upon. It has to be, because it is the only way the system can remain stable. So they will allege collusion, subpoena e-mail traffic and mobile phone data (its probably already been done, as in the companies have been asked to identify and secure the data and put it aside pending warrants), and they will prosecute those who colluded to move the market. Anyone they have a real chance of prosecuting. Then they will offer plea bargains and get them to sign NDAs, and those who refuse will go to court.
But justifying one crime on the basis that other people commit other crimes is a laughable position to take. I could say its acceptable for me to stab someone one the basis that the military kill non-combatants all the time. Just because one person commits a crime and does not get prosecuted for it, does not justify doing the same.
I could go an buy GME today if I wished to, and it is perfectly legal and I am not colluding with anyone. I would be bandwagon jumping. SO I am not saying anyone who jumps on a bandwagon is doing anything other than following their natural herd instinct. What the point was, is that getting together with others and co-ordinating your message, recognising, and with the of moving the market in a desired direction is absolutely against the law, and the stability of the stock market and trillions of investors dollars depends on that not happening again.
The only way to do that is to remove the discovery mechanism of who is shorting what, make it illegal to discuss stock trading on social media, or publicly destroy those who break the law, as an example to others not to do the same. The first is a step backwards, the second is impractical to the point of ridicule, although it is being discusses I understand, and the third is very possible, especially if key players have handed them their cases on a plate.