If we assume that Robinhood only ever existed to serve the interests of hedge funds (initially, by supplying retail trade data), then killing RH to save hedge funds just makes sense. And they'll probably just rebuild it under new names later.
Yeah if they're looking down the barrel of "infinite losses", then who cares? A class action suit and a congressional scolding is literally a get out of jail free card at this point. The suit will take YEARS to settle and pay out $5 checks, meanwhile maybe they'll get a fine from the SEC and some shitty publicity.
Everyone's been wishing for some kind of divine wrath to completely nuke firms like these; to actually punish them for their disgusting behavior. Instead they'll get off with the regular punishment that everyone knows is a total farce. We were all chanting "it's 2008 all over again" and we were right. They're going to get out of this just as unscathed as last time.
If we assume that Robinhood only ever existed to serve the interests of hedge funds (initially, by supplying retail trade data), then killing RH to save hedge funds just makes sense. And they'll probably just rebuild it under new names later.
Yeah if they're looking down the barrel of "infinite losses", then who cares? A class action suit and a congressional scolding is literally a get out of jail free card at this point. The suit will take YEARS to settle and pay out $5 checks, meanwhile maybe they'll get a fine from the SEC and some shitty publicity.
Everyone's been wishing for some kind of divine wrath to completely nuke firms like these; to actually punish them for their disgusting behavior. Instead they'll get off with the regular punishment that everyone knows is a total farce. We were all chanting "it's 2008 all over again" and we were right. They're going to get out of this just as unscathed as last time.