RE:WATCH LIVE: Robinhood CEO Tenev testifies at House FinancialI listened to this while trading today. My conclusion is nothing will get fixed and the problem will persist as the focus appears to be more on reddit retail crowd and robinhood settlement of trades and things that really don't matter. Things that aren't the problem.
Not much focus on why or how a stock gets 140% short sold.
Shouldn't THAT be the priority? I mean laws were broken, naked is illegal and someone should be going to jail. Bottom line of how you start fixing the $hitshow isn't fines so small that it doesn't deter,.. jail time deters.
On top of that isn't short selling a stock amongst a co-ordinated group effort considered manipulation? Isn't manipulation illegal?
Until they put some limitations on short selling nothing will change. Miss the 1980's when you bought stock of a good company and it went up in value over time. That was a real stock market, a free market. Now it is casino land where the big boys work together to fu*k retail. Why even call it the stock market as it no longer is...
Their "hearing" to me is just smoke and mirrors pretending to care about Joe Retail.