I was reading up on the Robinhood debacle these past few days and it reminded me of something I couldn’t put my finger on. Today I figured out what that was.
The Big Short was exactly the explanation I needed for what happened with the housing market in 2008. Unfortunately for me, I bought my first place right before this all went down so I got burned too. Times were tough for a minute after that.
Today I saw that the Redditors who drove up the price on a few stocks including GameStop (and subsequently crashed a few hedge funds in the process) had been shut down by their Robinhood stock trading app. Today I wondered why the rules suddenly change when the “little guy” is winning. Sucks when people move the goalposts on you like that. I don’t know about you, but I’m rooting for Reddit.
Bonus Clip:
In 2006-2007 a group of investors bet against the US mortgage market. In their research they discover how flawed and corrupt the market is.