Melvin Capital CIO at GameStop hearing: Reddit traders exploited opportunity around short interest 

Most congressional hearings accomplish nothing

And their assets should be RICO'ed too

Politicians receive money from these hedgfunds do they play dumb to appease them

They are responsible for the US Dollar Wtf do you want a true financial collapse? If so, f**k off.

Exactly. The passive voice reveals that he's too afraid to admit he lost money and can't handle the risk.

He just lost 2 BIG ones, not 2 big ones, but 2 BIG ones. By dumb money!!

He sounds like a sad puppy.

2:10 damn, you're right, wtf

Electrical outlet with a decorative cover,on the wall over yonder.

Nah that's just his new apartment after his wife kicked him out.

Stuck it to him real good!

And patrol message boards now 😂😂😂

Those data scientists are going to get distracted by all the dank memes 🤣

@MajorYapper7 You’d think they could just hire PLTR and help a brother out. Win win

it is legal, but its highly risky because the short interest that comes with it and the risk factor is infinite. Which some thing a fund that manages pensions thats on the stock market shouldnt ever invest in for a light to medium risk ever invest in.

EXACTLY. selling counterfeit shares wasnt manipulating the market but BUYING STOCK was manipulation.

@@andychi4726 Buying is also legal and risky but the hearing focused on buying and not the heavy shorting.

@@3star2nr true

@@arthurg5966 The difference in buying the risk was 100%, shorting a stock is infinite, i dont know if you know the difference between the 2 numbers, as one is so large that there is no physical written value to determine that number. The point is that in order to make a trade like that, you dont do it to a degree where the shorts were over 140% of market value unless you either do insider trading or market manipulation, which gabe plotkin was actually caught doing during his time in SAC. Also this hearing isnt about buying or selling, its about a bunch of out of touch governors trying to make sense of this stock market meme thing.

That explains his weird head shape.

Yep

The Congressman represents Florida's 5th district, which includes majority black parts of the panhandle, nowhere near Miami. Miami investors are about as far from his constituents as possible.

it's an ad for HP printers

Hes trying too look broke. Billionaire level psychology.

@@justsaiyansteve he actually is broke.

Puts on HP

Correct. "Exploit" -- although it is technically correct -- has a sinister connotation. Pretty sure that's why the word is used here -- the media is massaging you as always. ex·ploit verb 1. make full use of and derive benefit from (a resource):

Lmao!

Yes more retail traders lost money than people gained

They know what's going on but they ain't gonna bite the hand that feeds them. We have to expose them and root them out of politics and elect people with morals and a backbone

risking the whole economy to make money 140% of a company? yeah no. go to jail. bye. everyone involved that knew the risks deserve to go bankrupt. they knew and colluded and asked RH to turn off the buy button. NOPE. go bankrupt get liquidated. forced liquidation

@@Koushi82 no, you have to take big risks to make gains. Win some, lose some. Gabe did nothing wrong

@@user-ue8vp6fy8y big risk to make money? YOUR RISK NOT THE WHOLE F ECONOMY and stock market. It is your problem if you go bankrupt. You basically PASSED the risk to other parts of the economy namely the broker the exchange, the insurance and the banks a systemic risk to make money FOR YOURSELF and refusing to even pay TAXES. Intentionally left in there by bribing our congress men and women just to avoid taxes if GME went bankrupt. If you want to pay the full price of this short squeeze it would be in the trillions. If you naked short prepare to be short squeezed as well. It is your own fault for conducting illegal activities. basically naked shorting is illegal for a reason. And all these guys colluded to Do just that using loopholes to do it. Win some lose some? when you conduct market manipulation it is illegal. Redditors did nothing wrong. These HF that asked friends to bail them out by cheating did do something wrong. front running by looking at order flows then naked shorting and then asking RH + other brokers to close off trades that would have destroyed them. Cheating at it's finest. The cost to cover GME could have went into the trillions. Every GME shareholder needs to be compensated 420.69 or double that to them as punishment for their farce. Otherwise let the short squeeze happen if it does happen again. And also btw liquidate Melvin Capital and all shorts involved to find the real figure that GME share holders are owed without destroying the economy.

@@Koushi82 -- powerful.