Robinhood Hearing

Discussion in 'Business, Investing & Finance' started by Taco Gratis, Feb 19, 2021.

  1. Taco Gratis

    Taco Gratis Well-Known Member

    Joined:
    Jun 2, 2016
    Messages:
    4,865
    Ratings:
    +4,400 / -254
    Anyone watch that, yesterday?

    Other than Wagner, Axne, Auchincloss and Ocasio-Cortez, none of the questioners seemed to have a clue.

    Why are they on the Financial Services Committee if they can't ask even the most basic questions?
     
    #1 Taco Gratis, Feb 19, 2021
    Last edited: Feb 19, 2021
    • BMF

      BMF Bad Mother....
      Lifetime Member

      Joined:
      Sep 8, 2014
      Messages:
      17,255
      Oxbucks:
      $20,255
      Ratings:
      +27,633 / -420
      Low IQ Maxine was bringing the hard hitting questions!
       
      • Like Like x 1
      • Funny Funny x 1
      • List
      • no1g8r

        no1g8r Bringing Reason to the Masses
        Lifetime Member

        Joined:
        Oct 23, 2017
        Messages:
        1,925
        Oxbucks:
        $3,681
        Ratings:
        +4,204 / -132
        She was most interested in refuting the point that it was just political theatre.
         
      • 78

        78 Dazed and Confused
        Lifetime Member

        Joined:
        Jun 9, 2014
        Messages:
        17,396
        Oxbucks:
        $15,651
        Ratings:
        +22,197 / -1,187
        Robinhood, as is the case with many brokers, directs trading flow to market makers in exchange for a fee. It makes it possible for Robinhood to execute commission-less trades for its customers.

        That wasn’t good enough for AOC, who momentarily lost sight of why the hearing was taking place. She argued that Robinhood ought to direct all the proceeds from these transactions to its customers, thus proverbially taking from the rich and — yep — giving to the poor.

        Just one hitch. Robinhood customers are the ones getting rich by colluding against the big shorts. But let’s not get bogged down by silly details when there’s a story to sell her constituents.
         
        • FireFoley

          FireFoley Senior Member
          Lifetime Member

          Joined:
          Nov 19, 2014
          Messages:
          4,667
          Oxbucks:
          $4,592
          Ratings:
          +6,472 / -394
          Political Theatre (or BS) aka DOG and PONY SHOW.

          I would be willing to guess that less than 5% of the members on the Financial Services Cmte. know anything about how the financial markets work. All you need to know is Maxine Waters (much dumber than a box of rocks) is the Chair person
           
          • 78

            78 Dazed and Confused
            Lifetime Member

            Joined:
            Jun 9, 2014
            Messages:
            17,396
            Oxbucks:
            $15,651
            Ratings:
            +22,197 / -1,187
            Hell, even the regulators don’t understand the industry they oversee. It borders on embarrassing.
             
            • Taco Gratis

              Taco Gratis Well-Known Member

              Joined:
              Jun 2, 2016
              Messages:
              4,865
              Ratings:
              +4,400 / -254
              They understand once their stint in government is done, they can cash in by joining the companies they regulate.
               
            • soflagator

              soflagator Senior Member
              Lifetime Member

              Joined:
              Sep 4, 2014
              Messages:
              10,147
              Oxbucks:
              $21,791
              Ratings:
              +32,809 / -283

              Any time there is one of these hearings, the thing that impresses me the most is the composure the witnesses maintain given the setting. I wouldn’t do well with dumb people talking down to me, especially on subjects on which they’re clueless. It would get ugly, fast, and my regulatory problems would only grow.
               
              • Detroitgator

                Detroitgator Well-Known Member
                Lifetime Member

                Joined:
                Jul 15, 2014
                Messages:
                18,268
                Oxbucks:
                $13,021
                Ratings:
                +21,095 / -154
                the robinhooder's caused melvyn captial to capsize
                 
              • soflagator

                soflagator Senior Member
                Lifetime Member

                Joined:
                Sep 4, 2014
                Messages:
                10,147
                Oxbucks:
                $21,791
                Ratings:
                +32,809 / -283
                I’ve said before I think it’s dangerous watching average people walking around trading on margin. But I’d bet that average person is still more qualified to discuss many of these issues than someone like Waters. Most of these “public servants” are just a hair above mental retardation from my experience. It’s insane that they have the power they do.

                Wasn’t it Stacy Abrams who had her credit disclosed a few years back and was like a mid-5’s score with 200k in unsecured debt? And yet she’s likely to be sitting in one of those chairs at some point before too long telling us all the things we’re doing wrong.
                 
                • Like Like x 2
                • Funny Funny x 1
                • List
                • alcoholica

                  alcoholica I'm what Willis was talking about
                  Lifetime Member

                  Joined:
                  Jun 11, 2014
                  Messages:
                  14,591
                  Oxbucks:
                  $7,576
                  Ratings:
                  +15,581 / -688
                  [​IMG]
                   

                  Share This Page

                  The Box

                  Help

                  You don't have the necessary permissions to use the chat.

                    1. There are currently no users chatting.
                      • About Us

                        Our community sprung up when the Gatorsports message board was shut down in the summer of 2014. We pride ourselves on offering Gator-biased, yet critical discussion among people of all different backgrounds. We are working every day to make sure our community is the best Gator message board you will find.
                      • Like us on Facebook

                      • Buy us a Zima!

                        The management works very hard to make sure the community is running the best software, best designs, and all the other bells and whistles. Care to buy us a non-alcoholic Zima? We'd really appreciate it! Just click the "Donate" tab at the top of the page.