Business, Economics, and Taxes: Capitalism. Yay? >=(

[Handyman]

This is the one thing that really astounds me in all of this. The potential number of jobs that may have been saved is the biggest thing.

In the right hands this could be something used to help. Problem is Dude Bros gotta Dude Bros ;^)

 

[Jimjamesak]

In the right hands this could be something used to help. Problem is Dude Bros gotta Dude Bros ;^)

I'm now just imagining these people holding onto these shares and electing board members:

"Ok everyone let's introduce our new board members. This is Winston McMahon IV, he's a senior VP at TD Ameritrade. This is Judith Maygold-Rothstein, she's a VP at Conde Nast. This is Andrew Moses, who is also known as, if I can read the card correctly, Mrpoopistan..."

 

[Jimjamesak]

In fairness to them, there does seem to be a "give it back" movement on WSB. One involving buying video game stuff at GameStop and donating it to Children's Hospitals seems to be growing

 

[Handyman]

That would be really cool...

 

[Jimjamesak]

That would be really cool...

It's a very similar story to how Child's Play got started.

 

[Handyman]

It's a very similar story to how Child's Play got started.

I know I know...but you had to see it coming!

 

[BassAle]

I'm now just imagining these people holding onto these shares and electing board members:

"Ok everyone let's introduce our new board members. This is Winston McMahon IV, he's a senior VP at TD Ameritrade. This is Judith Maygold-Rothstein, she's a VP at Conde Nast. This is Andrew Moses, who is also known as, if I can read the card correctly, Mrpoopistan..."

They need to elect Deepfuckingvalue to the board

 

[rufus]

This is the one thing that really astounds me in all of this. The potential number of jobs that may have been saved is the biggest thing.

As opposed to Wall Street business as usual, which rewards companies who "cut costs", otherwise known as laying people off. .

 

[aparch]

500 contracts that give the owner the option to buy 100 shares per contract at $12 per share on April 16th.

he paid $0.20 per share for the contracts (500 * 100 * 0.20 = $10,000)

The contracts are currently worth $308 per share ($15,400,000)



The options were $0.20 per share because they were way “out of the money” when he bought them and it was likely they would expire worthless.

Got it. I thought it was actual stocks, but its options on stocks. Ahh. The more I learn in this thread.

 

[Kepler]

As opposed to Wall Street business as usual, which rewards companies who "cut costs", otherwise known as laying people off. .

It's... curious... how the Federal Reserve's twin statutory requirements (preventing unemployment, controlling inflation) in practice are only the latter because it hurts the rich too.

A Fed that prioritized employment, and favored Main Street at the expense of Wall Street, might just give capitalism another century of sputtering life.

 

[Jimjamesak]

I know I know...but you had to see it coming!

I do laugh at the joke but Child’s Play Charity is always a soft spot for me. My daughter had to go into the local children’s hospital as an infant and the toys she got to play with, that were all Child’s Play donations, were very helpful during her treatment. I always try to donate to Child’s Play every year because of that.

 

[unofan]

It's... curious... how the Federal Reserve's twin statutory requirements (preventing unemployment, controlling inflation) in practice are only the latter because it hurts the rich too.

A Fed that prioritized employment, and favored Main Street at the expense of Wall Street, might just give capitalism another century of sputtering life.

They do that because the Fed's tools are actually great for controlling inflation and mediocre at best at propping up employment (what good is borrowing money to pay payroll if there still aren't customers walking through the door).

A competent government uses fiscal policy to prop up employment, even if it means creating make work jobs.

 

[Kepler]

Nobody in the Political-Financial Complex has an answer to this.

Dear 99.9% of rich people and 99.9% of politicians from both parties,

All of America hates you. All of us. From BLM to MAGA. From Antifa to Main Street. From poor urban blacks to poor rural whites. And every young person in the ghetto, the sticks, and the suburbs.

We all hate you. We know you are the problem. We know your whole lives have been spent first being educated to rip us off and then being indoctrinated in philosophies that allow you to sleep at night behind your gates and your guards.

It's over for you. Take whatever you can scrape together and go, because we are coming for you to claw back every dollar you have stolen from us for the last fifty years. With interest.

We are America. You are a cancer that temporarily ran wild, but now we are cutting you out.

 

[Kepler]

A competent government uses fiscal policy to prop up employment, even if it means creating make work jobs.

The military is our make work program.

 

[Jimjamesak]

Nobody in the Political-Financial Complex has an answer to this.

Dear 99.9% of rich people and 99.9% of politicians from both parties,

All of America hates you. All of us. From BLM to MAGA. From Antifa to Main Street. From poor urban blacks to poor rural whites. And every young person in the ghetto, the sticks, and the suburbs.

We all hate you. We know you are the problem. We know your whole lives have been spent first being educated to rip us off and then being indoctrinated in philosophies that allow you to sleep at night behind your gates and your guards.

It's over for you. Take whatever you can scrape together and go, because we are coming for you to claw back every dollar you have stolen from us for the last fifty years. With interest.

We are America. You are a cancer that temporarily ran wild, but now we are cutting you out.

Major point relayed in the replies:

I mean BlackRock and Vanguard together hold more GME than GameStop. They're also probably the biggest (naked) short lenders too, so they want GME to to hit Andromeda because they're who is getting paid interest on these outrageous shorts.

The concern is valid that they might collude with Citadel and MM but I honestly think it makes it worse for them if they do.

I wonder if at some point BlackRock and Vanguard make a call for their outstanding shares? Highly doubtful but it would be hilarious to see.

 

[Kepler]

LOLStreet.

 

[dxmnkd316]

Major point relayed in the replies:


I wonder if at some point BlackRock and Vanguard make a call for their outstanding shares? Highly doubtful but it would be hilarious to see.

I don’t think blackrock and vanguard care to collude. They’re two of the largest managers of wealth in the world. They manage $15 trillion in assets. The largest hedge fund in the world has just under $100 billion. If BlackRock wanted to, they could use the $8 trillion under their umbrella and destroy these funds (the microbes on an anthill quote from contact comes to mind).

But they won’t. Because they don’t even care that these hedge funds exist. They are inconsequential. And it’s not in the interest of almost any of their largest managed funds investment strategy.

There is literally zero chance they do anything save for larger, policy-driven efforts.

 

[Kepler]

I don’t think blackrock and vanguard care to collude. They’re two of the largest managers of wealth in the world. They manage $15 trillion in assets. The largest hedge fund in the world has just under $100 billion. If BlackRock wanted to, they could use the $8 trillion under their umbrella and destroy these funds (the microbes on an anthill quote from contact comes to mind).

But they won’t. Because they don’t even care that these hedge funds exist. They are inconsequential. And it’s not in the interest of almost any of their largest managed funds investment strategy.

There is literally zero chance they do anything save for larger, policy-driven efforts.

Aren't they all on each other's boards, though?

I mean when you come down to it, it's the same 250 as-sholes.

 

[Kepler]

 

[dxmnkd316]

Aren't they all on each other's boards, though?

I mean when you come down to it, it's the same 250 as-sholes.

Of the hedge funds? Or vanguard? Vanguard’s board is ex-CEOs and university presidents. This would be like GE having GameStop’s CEO on its board. They are literally orders of magnitude different in size.

it’s not uncommon for hedge funds to hold seats on boards of companies they own large positions of. But they aren’t on boards of the big asset managers.