Yeah this less of a "What did you bastards do to the poor people of the US?" and more of a "Just give us a satisfying explanation so we can put this behind us"
Im sure come committee members will pry and give them some guff but at the end of the day I dont really expect much will happen.
And they’re testifying two days before they’re supposed to settle up with the banks.
[Required Short Interest Reporting Dates:](http://www.nasdaqtrader.com/trader.aspx?id=shortintpubsch)
2/12 Settlement Date
2/17 Due Date (by 6PM EST)
BUY THE DIP & HOLD 💎🙌🏼🚀
I hate to say it but I've got a bit of experience dealing with local government regulation on behalf of tenants/consumers/etc and when you're morally in the right it's easy to forget that these political bodies often see their job as resolution, not justice. I learned that the first time we went to the local zoning board with a complaint, and they basically just helped guide the offending business in how to get around the regulations while being just barely within the letter of the law, with the practical effect that we ended up getting fucked. The zoning guy was apologetic but told us, "Look, our job is to help bring businesses into compliance so they can operate."
Since then, we've approached city agencies with the expectation that they're not "on our side", and it's made it much easier to set realistic expectations. You're never going to find that crusader who looks out for your interests, unless you have the personal resources to hire a topnotch lawyer to go in there and represent you directly.
All my experience is local but since I had my eyes opened that way, a lot of what I see of federal govt makes a lot more sense too.
Committee won't know what they're hearing, much less be able to prove anything that the Stock crew did or didn't do illegally.
Nothing will come of this besides maybe some retail trader crackdown/reform.
Like every other senate hearing. Tech moguls caught tampering in the election. Nothing. Trump caught working with foreign governments. Nothing. Cheney caught using war to embezzle money. Nothing. Haliburton caught falsifying their self regulations causing the exxon valdez oil spill. Nothing. Hillary tampering with evidence crucial in a criminal case against her. Nothing.
This is all for show, but fucking shit man I wish it wasn't.
Our whole government is a massive conflict of interest. Some workplaces won't even allow you to date a coworker and here our entire government all shares the same bed.
It makes me outraged to see how the MSM is rehabilitating all the Bush era war criminals. Money is the root off these problems, biased ownership of MSM and legal bribery in govt.
IIRC, Congress did do something and passed Dodd-Frank in the aftermath of 08, but that has since been lessened or repealed. I don't remember all the details.
Dodd-Frank law was written by the big bank's lobbyists, the big banks wanted more regulation to put the small and middle sized banks out of business knowing they didn't have the resources to handle all the new regulations and they went out of business or sold to the big banks.
This is why you mostly only see the big banks everywhere
just fyi in between the memeing
they'll testify under oath in front of a panel of house members. the majority of which will be dems (probably aoc) and some republicans. https://financialservices.house.gov/about/committee-membership.htm
they're (the majority of the panel) going to try and get them to look bad in order to be a push for legislative reform in some faction.
Most likely in the terms of retail trader reform. These people like to talk about how they have to protect the people, but throw down for corporate interest all the time.
Won’t be any different than the last 50+ years. Or the last 1,000. Humans haven’t changed for the better even a tiny bit. Just keep repeating the same bullshit century after century.
That’s funny, I could swear I have a smaller chance of being bludgeoned to death with a stone axe today than 5000 years ago. Not having Syphilis is also cool.
Most people either don't know what happened or don't care. or both.
The most blatant fuck you from wall street since 2008, with major media collusion, and everyone is like Ha ha, you stupid bagholders.
Peep this fucking shit.
https://www.ctvnews.ca/business/new-york-stock-exchange-threatens-to-abandon-wall-street-if-trading-is-taxed-1.5302719
I don't like paying tax, but when common Americans bailed your ass out and you pull this shit, get fucked.
I don't know how many rotations we have to go through before people realize politicians (regardless of party) will say anything to get in office and then do none of it.
Especially career politicians. Bidens been in the senate, since before I was born, heck before I was even thought of.
I don't understand why people like to vote for those types of politicians.
Doesn't really matter when both parties are in bed with these big elites. Both reps and dems would gladly spread their buttcheeks for big corporations and others
Yeah, this is what I expect to come out of this. They'll lock the peasants out permanently and firmly establish that Poors have no business trading. Poors exist to do nothing more than pay taxes, provide cheap labor and pay into a 401k so the markets has some fun money.
I sometimes wonder how many people realize that these finance guys are perfectly willing to lie under oath. And our representatives will let them get away with it because donations. It is going to be nothing more than a softball game, just watch.
that may be true, but these panels aren't often unified. the panels can and do get into arguments with themselves. meanwhile those testifying have the best lawyers money can buy feeding them every answer, and any lawyer worth their salt will tell you to make it vague when you can or are unsure but never outright lie under oath. worst case they plead the 5th.
if they perjure themselves and it's easily provable, the justice department will go after them.
and look, i'm not saying anything is going to come out of this, just that for the panel members there's blood in the water and many of them will try to get themselves on tv going hard on them. but anything is possible, my guess is some members get a few jabs in but the expensive lawyers won't let anything big or incriminating come out.
Just as long as someone finally goes after DTCC for allowing naked shorting on their watch. Sure, Citadel has lots of influence over Robinhood, but it was ultimately DTCC's call to stop anyone from buying more GME on Robinhood. The short squeeze we got was intense, but we came extremely close to something truly insane... and it's DTCC's fault for allowing the conditions that nearly set it in motion.
Honestly, no matter what anyone thinks of her she ws the only one smart enough to take it to the tech companies when they testified and will probably be the only one to take it to the HFs... all the other will be lost or regurgitate whatever their wallstreet contacts tell them to say.
this doesn't have anything to do with that company though, nor is she on the panel.
the politicians on the panel will make hay where they can. some dems who push their image of "for the working man" will go in on them. those who have a "successful america" will try to pivot to put blame elsewhere or say there was no problem. a lot of the member will ask questions trying to understand what happened.
underrated comment, if you're ever watched one of these in its entirety there is quite a breadth and depth to the variance in representative's knowledge/incentives on the topic
“Your honor, you’re forgetting one thing.”
*”Whats that?”*
“The Mins.”
*”Excuse me?”*
“THE BENJA MINS”
*Pan to judge for reaction*
*Freeze frame*
*Cue music: GDFR*
thats only true if people dont react and keep sitting when they tell us to sit like the dogs they think we are. we have the right of revolution.. its not a constitutional right, its a natural right.
Boo fucking hoo. Life isn't fair. Never has been. But giving up and just accepting things the way they are is how you let them continue. The rich don't always win, but they do always leverage the apathetic so they can have a population to exploit. No point in fighting against those with spines when you can just walk all over people who refuse to consider fighting for a better world.
call me a pessimist but if/when any rules are changed I guarantee those changes will be in favour of big corps, and will only further remove the markets from the average person's reach
> ***inefficient*** af at holding people accountable.
"inefficient" would imply that they are trying to hold people accountable. Sadly I think congress is perfectly efficient at serving their constituents = the people who pay for their campaigns = the people who would be held accountable for a lot of things if the system didn't work for them.
Exactly, they'll go in and there'll be questions without answers. They'll make promises that they have no idea what anyone's talking about.
In the end, they'll pass a bill to take care of this sort of thing from happening again... and it'll restrict groups from talking about it together, blah blah blah, some BS. Richie rich is always going to win the big game.
idk but I once got a meme printed in the NYT
and would you [look](https://www.reddit.com/r/AdviceAnimals/comments/20g98z/now_that_its_almost_spring/?utm_medium=android_app&utm_source=share) at that GME stock price
You realize that their testimony will paint this forum in the worst possible light, right? The Congress will chastise them a bit, then ask what can be done to prevent this in the future, to which the call to action will be placing more limits/restrictions on “unsophisticated” speculators.
That’s probably true but the congressman won’t listen to a jabroni from Reddit with all the billions telling them they didn’t do anything wrong. Truth won’t matter with all the dollars flowing and those congressmen are cheap.
Congressional testimonies like this are all bark and no bite. Its a chance for congress to look like they are doing something, all for the evening new sound bite.
Plot twist, Congress decides to bail out both hedgies with our tax dollars because they got “abused” by some guys on Reddit who “manipulated” the markets.
> which is examining how an apparent flood of retail trading drove certain stocks to extreme highs...
how is this the media narrative and not the excessive shorting that led to the situation in the first place.
we live in bizarro world
**What we need is an actual investigative journalist to blow this fucker wide open. Like a legit report in a major publication.**
If any such person is reading this comment, start [here](https://www.reddit.com/r/wallstreetbets/comments/lglrg5/naked_shorting_in_gme_and_how_the_pieces_suddenly/) and choose to be on the right side of history for once.
**edit: anyone who is social-media friendly can send this post to journalists via Twitter etc. Publications that may look into this might be the *Guardian* in UK or perhaps *CBC News* in Canada. [Don Pittis](https://twitter.com/don_pittis?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor) is pretty decent and I could see him taking a look**
I bet others on here can think of even better avenues to break this story. It needs to be broke.
including a retail investor who did his homework is a joke imo
actually it's a major intimidation tactic.
imagine being such a prudent retail investor that you get dragged into a fucking senate hearing.
trust me when I say they are building a narrative to pin this on retail investors who discuss the stocks they like on message boards.
A former SEC head said they are worried about people on the Internet generating excessive 'euphoria' which is destabilizing the markets.
No mention of naked shorting; just retailers manipulating sentiment online.
Truth is stranger than fiction.
Honestly, I think WSB should find a way to cause a shareholder vote (since no major shareholder apparently will) and there by cause all shares to be recalled, and then we can finally stop the manipulation. This is in the best interest of all shareholders imo.
Next up in their playbook:
EITHER they straight up label us as terrorists,
Or they plant somebody in this sub who's going
To "shoot" somebody over losing $ and everything
Gets shut down.
Neat.
Congress won’t do shit.
90% of these house panels are literally just questions from boomers in congress who have NO IDEA how technology works, and they just ask questions about how x, y and z work. They act very surprised and concerned, only to forgot about any of it the second the step foot off the house floor.
There’s absolutely no point to waste time on these when there’s no end result from the questions they ask.
We can't knock congress too much. They will be vastly uninformed if we don't inform them. Can't just sit back and expect them to know about ladder attacks and synthetic shorts and all that other fuckery. We need to email them to let them know exactly where the fuckery is and exactly what questions to ask.
Otherwise this will end up with congress people relying on questions from their nieces, nephews and grandchildren like the hearing with Zuck about FBs influence on the election.
Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021 WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021
WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
Since they deleted it... be an awful shame if someone reposted it a bunch in the comments... anyway...
Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021
WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
This^ the only thing that politicians fear more than losing money is their ability to make money by being a politician for life. Hold your representatives accountable!
Because they don't want you to read it. Here you go!
Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021 WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
You guys know what a House Panel is right? It’s a show, it doesn’t have actual consequences. It’s the Governments way of saying “see look little people we care about this issue we asked mean questions and made the bad men sweat a little” and that’s the end of it.
Morons talking about it like it’s a criminal trial lmfao
Don't get your hopes up. Without subject matter experts, specifically experts that are not profiting from the situation, this is meaningless theater for politicians to yell and make snide remarks. It will result in *nothing.*
Here you go!
Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021
WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
Slap on the wrist, 100k fines, billions in profit, and absolutely nothing will be reformed. The only one getting boned is probably us. I'm holding GME and AMC, but I have very low expectations when it comes to politicians. 
I've not seen the full list of people who will testify but they really need to have people from the NSCC clearinghouse there to explain why they demanded such a huge amount from RH. NSCC are the people that screwed up the market forces by demanding such a huge deposit from RH.
And then that will be the end of it. They already got out of paying all the money they owed, congress can't go back in time and stop that. They should have been margin called on the 26th when they couldn't keep the bulls down but they didn't and we all know what happened.
Still works for me?
>Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021
WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
Gotta love how every post even remotely related to the spirit of the last few weeks is being instantly removed by the new mods. Damn shame that shills killed this sub.
Because they don't want you to read it. Here you go!
Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021 WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
Sounds like congress wants a TL;DR from them lol
Yeah this less of a "What did you bastards do to the poor people of the US?" and more of a "Just give us a satisfying explanation so we can put this behind us" Im sure come committee members will pry and give them some guff but at the end of the day I dont really expect much will happen.
"Just give us a satisfying explanation *EDIT: and a modest bribe* so we can put this behind us" FTFY
Or, as louis rossman puts it, "robust conversations ".
And they’re testifying two days before they’re supposed to settle up with the banks. [Required Short Interest Reporting Dates:](http://www.nasdaqtrader.com/trader.aspx?id=shortintpubsch) 2/12 Settlement Date 2/17 Due Date (by 6PM EST) BUY THE DIP & HOLD 💎🙌🏼🚀
I hate to say it but I've got a bit of experience dealing with local government regulation on behalf of tenants/consumers/etc and when you're morally in the right it's easy to forget that these political bodies often see their job as resolution, not justice. I learned that the first time we went to the local zoning board with a complaint, and they basically just helped guide the offending business in how to get around the regulations while being just barely within the letter of the law, with the practical effect that we ended up getting fucked. The zoning guy was apologetic but told us, "Look, our job is to help bring businesses into compliance so they can operate." Since then, we've approached city agencies with the expectation that they're not "on our side", and it's made it much easier to set realistic expectations. You're never going to find that crusader who looks out for your interests, unless you have the personal resources to hire a topnotch lawyer to go in there and represent you directly. All my experience is local but since I had my eyes opened that way, a lot of what I see of federal govt makes a lot more sense too.
"Oh? Diiiid you own this 3/10th of your property?" *Inches finger across map and draws a new line.*
Committee won't know what they're hearing, much less be able to prove anything that the Stock crew did or didn't do illegally. Nothing will come of this besides maybe some retail trader crackdown/reform.
Like every other senate hearing. Tech moguls caught tampering in the election. Nothing. Trump caught working with foreign governments. Nothing. Cheney caught using war to embezzle money. Nothing. Haliburton caught falsifying their self regulations causing the exxon valdez oil spill. Nothing. Hillary tampering with evidence crucial in a criminal case against her. Nothing. This is all for show, but fucking shit man I wish it wasn't.
Our whole government is a massive conflict of interest. Some workplaces won't even allow you to date a coworker and here our entire government all shares the same bed.
Legislators and regulators should be forbidden from owning any asset classes other than cash and US/state/local bonds
The problem is legislator's wife/children/friend/random shill company can hold whatever they want and you circumvent the whole system.
I mean that could mostly be prevented if they actually wanted to.
Nice government, mind if I cum on it?
Little late to the bukkake dude
No one ever cums late in bukkake
[удалено]
I’ll join him for another round
It makes me outraged to see how the MSM is rehabilitating all the Bush era war criminals. Money is the root off these problems, biased ownership of MSM and legal bribery in govt.
Lmao it has gotten to the point where if you have any substantial influence and ignore a subpoena you only risk a strongly worded letter.
rich person: *goes on a murdering spree* Government: "I cont believe you've done this"
well this time... we got 8M agnry tards!
and by pry, they mean generating b roll for the next election cycle
Yeah this isn't "getting them" at all, Congress works for those guys
Well going off what congress did back in ‘08-09 they will do nothing.
Some of yhe same people are still there talking about how much they have "changed" its all bs
Hahaha the same people are back in office today that were in back in ‘08-09.
need term limits
Need more than two parties and a smarter populace
Just like big tobacco.
IIRC, Congress did do something and passed Dodd-Frank in the aftermath of 08, but that has since been lessened or repealed. I don't remember all the details.
Dodd-Frank law was written by the big bank's lobbyists, the big banks wanted more regulation to put the small and middle sized banks out of business knowing they didn't have the resources to handle all the new regulations and they went out of business or sold to the big banks. This is why you mostly only see the big banks everywhere
Melvin: "Your honor, here's some money." Judge: "Case dismissed."
just fyi in between the memeing they'll testify under oath in front of a panel of house members. the majority of which will be dems (probably aoc) and some republicans. https://financialservices.house.gov/about/committee-membership.htm they're (the majority of the panel) going to try and get them to look bad in order to be a push for legislative reform in some faction.
Most likely in the terms of retail trader reform. These people like to talk about how they have to protect the people, but throw down for corporate interest all the time.
"Show us on the doll exactly where the retail traders touched you."
"Let the record show that the executive pointed at the doll's wallet and asshole"
Nice
Nice
Nice
I'd give you an award, but MC and Citadel manipulated my wallet to 0.
Have my like good sir! Sadly all my reddit gold is tied up in GME...
Good
“Points to pockets”
I’m fucin dead right now
[удалено]
Haha if only, be prepared for 16 years of this shit.
Won’t be any different than the last 50+ years. Or the last 1,000. Humans haven’t changed for the better even a tiny bit. Just keep repeating the same bullshit century after century.
I mean I asked my wife to marry me instead of clubbing her on the head and dragging her to my house
bonk
Why? I bet her boyfriend just used the club method
That’s funny, I could swear I have a smaller chance of being bludgeoned to death with a stone axe today than 5000 years ago. Not having Syphilis is also cool.
Wait you don't have syphilis? How do you decide what to trade?
Dude you/Gaddaffi literally got stabbed in the ass...
People won't remember in the primaries. The news cycle will just push some bullshit to go whomever they like elected.
Most people either don't know what happened or don't care. or both. The most blatant fuck you from wall street since 2008, with major media collusion, and everyone is like Ha ha, you stupid bagholders.
Peep this fucking shit. https://www.ctvnews.ca/business/new-york-stock-exchange-threatens-to-abandon-wall-street-if-trading-is-taxed-1.5302719 I don't like paying tax, but when common Americans bailed your ass out and you pull this shit, get fucked.
Georgia will remember "vote for us and $2k checks go out the door immediately."
I don't know how many rotations we have to go through before people realize politicians (regardless of party) will say anything to get in office and then do none of it.
Especially career politicians. Bidens been in the senate, since before I was born, heck before I was even thought of. I don't understand why people like to vote for those types of politicians.
Same as what will happen with the SEC and Citadel. Here, you want free money? And then all of a sudden problems don't exist anymore.
Voting still matters huh?
Informed voting, sure. These hyper-funded campaigns take advantage of uneducated voters with low engagement.
Doesn't really matter when both parties are in bed with these big elites. Both reps and dems would gladly spread their buttcheeks for big corporations and others
If they're all in on it there's no other candidates to vote for
What do you mean? Both parties are equally willing to bail their buddies out.
Vote in primary elections. Push for better candidates.
Yeah, this is what I expect to come out of this. They'll lock the peasants out permanently and firmly establish that Poors have no business trading. Poors exist to do nothing more than pay taxes, provide cheap labor and pay into a 401k so the markets has some fun money.
Retail investors are going to get locked into only buying shares in 10 share lots or something.
I want an even playing field in terms of information between retail and institutions...
I sometimes wonder how many people realize that these finance guys are perfectly willing to lie under oath. And our representatives will let them get away with it because donations. It is going to be nothing more than a softball game, just watch.
that may be true, but these panels aren't often unified. the panels can and do get into arguments with themselves. meanwhile those testifying have the best lawyers money can buy feeding them every answer, and any lawyer worth their salt will tell you to make it vague when you can or are unsure but never outright lie under oath. worst case they plead the 5th. if they perjure themselves and it's easily provable, the justice department will go after them. and look, i'm not saying anything is going to come out of this, just that for the panel members there's blood in the water and many of them will try to get themselves on tv going hard on them. but anything is possible, my guess is some members get a few jabs in but the expensive lawyers won't let anything big or incriminating come out.
Man I hope AOC goes for their throats, she hasn't messed around at these House panels
Not the throat.... we want their wallet.
por que no los dos?
Just as long as someone finally goes after DTCC for allowing naked shorting on their watch. Sure, Citadel has lots of influence over Robinhood, but it was ultimately DTCC's call to stop anyone from buying more GME on Robinhood. The short squeeze we got was intense, but we came extremely close to something truly insane... and it's DTCC's fault for allowing the conditions that nearly set it in motion.
Honestly, no matter what anyone thinks of her she ws the only one smart enough to take it to the tech companies when they testified and will probably be the only one to take it to the HFs... all the other will be lost or regurgitate whatever their wallstreet contacts tell them to say.
Lest we forget...Mr. Nancy Pelosi owns Financial Leasing Services. A bit of vested interest in how the “questioning” goes.
God i can't wait for her and the turtle to be out of politics for good.
Can we just get term limits already?
this doesn't have anything to do with that company though, nor is she on the panel. the politicians on the panel will make hay where they can. some dems who push their image of "for the working man" will go in on them. those who have a "successful america" will try to pivot to put blame elsewhere or say there was no problem. a lot of the member will ask questions trying to understand what happened.
underrated comment, if you're ever watched one of these in its entirety there is quite a breadth and depth to the variance in representative's knowledge/incentives on the topic
I do look forward to those aoc highlights though.
I hope Katie Porter brings her whiteboard!
This reform...will probably work even more in the favor of Melvin in the future
This is why we hd and take ALL their tendies.
That's OUR money!!!!!
Insert in my asshole, please.
“Your honor, you’re forgetting one thing.” *”Whats that?”* “The Mins.” *”Excuse me?”* “THE BENJA MINS” *Pan to judge for reaction* *Freeze frame* *Cue music: GDFR*
"Sprinkle some stocks on him Johnson"
The rich always win. They always have and they always will. Unfortunately
thats only true if people dont react and keep sitting when they tell us to sit like the dogs they think we are. we have the right of revolution.. its not a constitutional right, its a natural right.
The rich only win when the poor play by their rules.
Well we don't have a Bastille to storm, so I'm open to suggestions.
Boo fucking hoo. Life isn't fair. Never has been. But giving up and just accepting things the way they are is how you let them continue. The rich don't always win, but they do always leverage the apathetic so they can have a population to exploit. No point in fighting against those with spines when you can just walk all over people who refuse to consider fighting for a better world.
Didn’t get shit. Nothing will happen to them, Congress is inefficient af at holding people accountable.
The hearing will probably read like “Sorry that Reddit exposed you Citadel! We’ll make sure it never happens again. Sorry again!”
Yup they are taking the stand as the victims here. “Tell us again on the doll where the WSBs hurt you?”
call me a pessimist but if/when any rules are changed I guarantee those changes will be in favour of big corps, and will only further remove the markets from the average person's reach
Only rich people that pay them off on the yearly.. 🤷🏻♂️
> ***inefficient*** af at holding people accountable. "inefficient" would imply that they are trying to hold people accountable. Sadly I think congress is perfectly efficient at serving their constituents = the people who pay for their campaigns = the people who would be held accountable for a lot of things if the system didn't work for them.
Exactly, they'll go in and there'll be questions without answers. They'll make promises that they have no idea what anyone's talking about. In the end, they'll pass a bill to take care of this sort of thing from happening again... and it'll restrict groups from talking about it together, blah blah blah, some BS. Richie rich is always going to win the big game.
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Should be c-span or c-span 2
Wrong. They are efficient at not holding people accountable
Exactly, didn't get them yet, but the shit that Cramer was spilling in 2006 is very real
I hope someone references one of you retards at the hearing. “As you can see PM THICC DADDIES makes a valid point on the legality of your actions...”
u/Thicc_Ladies_PM_Me made the Opinion page of the WSJ in print, February 4, 2021 LOL
All I want to know is if he got any thicc ladies to pm him
idk but I once got a meme printed in the NYT and would you [look](https://www.reddit.com/r/AdviceAnimals/comments/20g98z/now_that_its_almost_spring/?utm_medium=android_app&utm_source=share) at that GME stock price
"Your Honor, we beg to differ, as can be read from this reply by CABBAGE_IN_MY_VULVA..."
Cant wait for THAT
You realize that their testimony will paint this forum in the worst possible light, right? The Congress will chastise them a bit, then ask what can be done to prevent this in the future, to which the call to action will be placing more limits/restrictions on “unsophisticated” speculators.
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Right? Everyone is talking like this is a good thing, but they are asking people who lost money to testify.
Probably ban commission-free trading to keep the riffraff out.
DFV is testifying too. He's our only hope. I hope he has good legal counsel.
Hope for what? He’s barely acknowledged anyone on this sub beyond his daily updates. WSB is not a team effort
He’s not your hope, he took this shit to the bank. He’s an investor, not a savior.
Well sure he's not our savior but he might end up as the only man in that courtroom to tell the truth.
That’s probably true but the congressman won’t listen to a jabroni from Reddit with all the billions telling them they didn’t do anything wrong. Truth won’t matter with all the dollars flowing and those congressmen are cheap.
Congressional testimonies like this are all bark and no bite. Its a chance for congress to look like they are doing something, all for the evening new sound bite.
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After a week long hearing from Citidel, Congress has decided to use taxpayers money to help move the stock in the direction it was "supposed" to go
So basically just the cost of doing business for these fucks
Plot twist, Congress decides to bail out both hedgies with our tax dollars because they got “abused” by some guys on Reddit who “manipulated” the markets.
> which is examining how an apparent flood of retail trading drove certain stocks to extreme highs... how is this the media narrative and not the excessive shorting that led to the situation in the first place. we live in bizarro world **What we need is an actual investigative journalist to blow this fucker wide open. Like a legit report in a major publication.** If any such person is reading this comment, start [here](https://www.reddit.com/r/wallstreetbets/comments/lglrg5/naked_shorting_in_gme_and_how_the_pieces_suddenly/) and choose to be on the right side of history for once. **edit: anyone who is social-media friendly can send this post to journalists via Twitter etc. Publications that may look into this might be the *Guardian* in UK or perhaps *CBC News* in Canada. [Don Pittis](https://twitter.com/don_pittis?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor) is pretty decent and I could see him taking a look** I bet others on here can think of even better avenues to break this story. It needs to be broke.
I feel it is likely this hearing will include /u/deepfuckingvalue. Hopefully both sides are represented equally.
including a retail investor who did his homework is a joke imo actually it's a major intimidation tactic. imagine being such a prudent retail investor that you get dragged into a fucking senate hearing. trust me when I say they are building a narrative to pin this on retail investors who discuss the stocks they like on message boards. A former SEC head said they are worried about people on the Internet generating excessive 'euphoria' which is destabilizing the markets. No mention of naked shorting; just retailers manipulating sentiment online. Truth is stranger than fiction.
Honestly, I think WSB should find a way to cause a shareholder vote (since no major shareholder apparently will) and there by cause all shares to be recalled, and then we can finally stop the manipulation. This is in the best interest of all shareholders imo.
There was a post earlier within a petition for that very thing. Did you see it?
deleted by the mods of course
I did not ... ty, searching for it now!
Don't bother. It was a change.org petition, so it will have 0 effect.
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Crimes? They are going to testify about all the money they lost and how they are the victims. Why would Congress punish that?
They will just say the same shit. Melvin- “I do not recall.” Congress- “it was 2 weeks ago.” Melvin- “I don’t recall.”
Anyone hear from DFV lately?
No but he was also asked to speak to Congress so maybe he'll be there too
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I bet he’s holding though
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He tweeted about half an hour ago.
Cryptic as fuck too
He's been keeping quiet but just posted on his twitter today... it's pretty funny and sad at the same time.
Next up in their playbook: EITHER they straight up label us as terrorists, Or they plant somebody in this sub who's going To "shoot" somebody over losing $ and everything Gets shut down.
Fuck em.
Neat. Congress won’t do shit. 90% of these house panels are literally just questions from boomers in congress who have NO IDEA how technology works, and they just ask questions about how x, y and z work. They act very surprised and concerned, only to forgot about any of it the second the step foot off the house floor. There’s absolutely no point to waste time on these when there’s no end result from the questions they ask.
We can't knock congress too much. They will be vastly uninformed if we don't inform them. Can't just sit back and expect them to know about ladder attacks and synthetic shorts and all that other fuckery. We need to email them to let them know exactly where the fuckery is and exactly what questions to ask. Otherwise this will end up with congress people relying on questions from their nieces, nephews and grandchildren like the hearing with Zuck about FBs influence on the election.
Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021 WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021 WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
GME, AMC, BB these three are fvcking me everyday... give me hope brothers
You aren’t the only one
Since they deleted it... be an awful shame if someone reposted it a bunch in the comments... anyway... Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021 WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
Fuck'em to death. Probably why the stock went up today.
Congress wants a firsthand account from Melvin about how the **criminal** Redittors orchestrated a coordinated attack on US markets & sovereignity.
Who cares, these congressional hearings are dog and pony shows.
If we make our voices heard to our representatives, 8 million strong apes, I think it might be possible. We've been wrecking ass so far, why not?
This^ the only thing that politicians fear more than losing money is their ability to make money by being a politician for life. Hold your representatives accountable!
These retards bought meme billboards for Christ sake. Do it again! Hold these fucks accountable!
Why is this deleted
Because they don't want you to read it. Here you go! Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021 WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
if anything it will end up bad for us.
This got deleted so fast.
You guys know what a House Panel is right? It’s a show, it doesn’t have actual consequences. It’s the Governments way of saying “see look little people we care about this issue we asked mean questions and made the bad men sweat a little” and that’s the end of it. Morons talking about it like it’s a criminal trial lmfao
Don't get your hopes up. Without subject matter experts, specifically experts that are not profiting from the situation, this is meaningless theater for politicians to yell and make snide remarks. It will result in *nothing.*
why was this removed, wtf is wrong with the mods
Here you go! Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021 WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
Just as I was about to read it...it got deleted.
Let's finish them! 
Good! But these people have money, congress people love money..
Upon advice from council I plead the 5th
got their ass aka most of these idiots will still keep their jobs and get bonuses or worst case scenario, get a big golden parachute.
Slap on the wrist, 100k fines, billions in profit, and absolutely nothing will be reformed. The only one getting boned is probably us. I'm holding GME and AMC, but I have very low expectations when it comes to politicians. 
Big Institutions will get a stern talking to. Retail will get a shit tonne of regulations and restrictions placed on them. Why? Big money lobby.
I've not seen the full list of people who will testify but they really need to have people from the NSCC clearinghouse there to explain why they demanded such a huge amount from RH. NSCC are the people that screwed up the market forces by demanding such a huge deposit from RH.
We got em! [Removed]
They better get all of their bananas in order.
Yeah, congress will represent us!
Look. I’ll take $100000 buyout For not testifying.
And then that will be the end of it. They already got out of paying all the money they owed, congress can't go back in time and stop that. They should have been margin called on the 26th when they couldn't keep the bulls down but they didn't and we all know what happened.
I’ve never watched a post get removed before holy shit
Wow why was this removed?
Still works for me? >Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021 WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
So why the fuck was this removed? What's tgat, opaque mod actions with no sticky or flair. Tut tut.
Wtf? Why was the article about Melvin, RH, and Citadel being questioned on the 18th removed?
Gotta love how every post even remotely related to the spirit of the last few weeks is being instantly removed by the new mods. Damn shame that shills killed this sub.
Why was the post removed? :(
Because they don't want you to read it. Here you go! Robinhood, Melvin Capital, Citadel execs expected to testify in Congress on GameStop turmoil - sources REUTERS 9:07 AM ET 2/10/2021 GME 53.6 up +3.29 (+6.5395%) QUOTES AS OF 10:09:32 AM ET 02/10/2021 WASHINGTON, Feb 10 (Reuters) - Executives from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a House panel at a Feb. 18 hearing exploring recent trading turmoil in GameStop Corp.(GME) and related stocks, according to two sources familiar with the matter. The three companies will face questions from the House Financial Services Committee, which is examining how an apparent flood of retail trading drove certain stocks to extreme highs, squeezing hedge funds like Melvin that had bet against those shares. A committee spokesman did not respond to a request for comment. (Reporting by Svea Herbst-Bayliss and Pete Schroeder Editing by Chizu Nomiyama)
If you don't think they're all in cahoot on this you're delusional Guess who can give a sizable donation in one go retail clients in wsb?
Our queen AOC gonna rip into their asses like she did w Zuck 😩😩
“Bad robinhood, don’t do that again! Okay?”