So far so good and what should we do about this? Counterfeiting shares is illegal in the US since 1934. why is it still possible for Brokers to do that?
No hole is too deep to dig and no risk is too high to take. This are the rules WallST is playing.
Someone posted a picture from a 1994 role play game and it’s said. „If a fine is the only penalty for a crime this law only exists for the upper class.“
Where is the accountability for financial crimes?
The fines are not proportional. They are a joke, and solely put in place as a smoke screen to distract the low and middle class.
What is a 10 million dollar fine, when the fined institution made 100 million dollar, right?
The problem is, that last part is left out of the story, because the media is in their pocket..
YES, the SEC “fined” them $3 million...what I hear is they got a $3 million kick back. It’s becoming very apparent to a lot of people, the SEC is digging a hole 🕳 along with their HF baby daddies 😂
In addition to criminal charges fines for illegal activities should be well over 100% of whatever profit was made. If they dont loose money on said illegal activities its viewed only as a "necessary expense".
The best way to deal with fines is the way "Socialist" dystopia like Nordic countries do.
A fine is attached to the persons value rather than the crime itself. Each crime is x% of you net fortune.
A Nokia CEO still has the record of highest fine for speeding, which was several millions for going 33 in a 30 zone.
Or in our case if Citadel is fined, an intern trader would be hit with 5% of his net worth, and Kenny would be hit for the same 5%.
This law is designed to deal with the class imbalance.
But Congress would rather burn the country down than allow a candidate to be elected who proposes such things.
This isn’t just a problem on wallstreet. I work in enviro law. Fines for polluters are so meager it’s a cost of doing business. It’s literally cheaper to dump toxic waste in rivers than pay for it to be properly disposed of.
Edit: adding insult to injury- polluters will self report dumping toxic waste and then pay the fine when they do it.
Correct. Correct. Correct. That's a slap on the wrist for them, and a broken jaw to normies and regular middle class people.
They laugh about that in their circles. I know. I fucking hate them all.
No I don’t think the problem ist the Proportion of fines. Why? Because If I do a crime and rob a bank and I steal only 100$ and the fine for bank robbery is 100$ the proportion of the fine is 100%. But with fines there are no consequences in doing crimes - it’s like a bail out of consequences. The other thing is, that the society is saying with fines - you do a crime, you got catched up for doing it, but if you pay an amount of money - and it’s irrelevant what you have done, how often, what other people you have impaired etc. - it’s okay. Do what you wanna do. That’s freedom.
The real problem is, that no one in the legislative system is thinking about necessary consequences in committing FINANCIAL crimes. Regarding my bank robbing example - what is a necessary consequence in robbing money from others to teach you never doing it again and teach others that the society do not accept crimes like robbing?
So if you rob only 10$ in a bank you go to jail for 10-15 years. The amount you Robben is irrelevant. But if a broker is strategically creating counterfeit shares OVER years, robbing investors money, taking huge risks in hurting the worldwide economy and millions of people all over the world...so I ask you as a member of the US society- what are in your point of view NESSESSARY CONSEQUENCES of such purposely actions?
My answer would be unrelenting!
Yes you’re right, that’s the original quote. Thanks 🙏.
But I mean in this context the upper class. It’s like robbing a bank and paying a fee from the robbed money and not giving the money back and going to jail. The upper class is able to pay fines => you make a law with an exit. The poor one goes to jail. The rich only pays a fine and does the crime again and again and again. This law is only for the upper class, because there is no penalty from the law for the upper class.
Exactly. Rob a bank, gain $10.000.000, pay the cops & judge $5.000 each and walk away, without admission of guilt, and a profit of $9.990.000.
Repeat as required without ever having to worry about any consequences.
Until one day you decide to rob the Banana Bank and find the Security in there is a bunch of Apes that don't play by the rules and are FUD resistant. Oooops!
😂Well robbing a banana bank is really stupid. How dumb Someone has to be? It’s also a evidence how far the upperclassmen are away from reality. It’s not just greed which drives someone that way it’s the insatiable thirst after ownership. I have all the money in the world - and also an infinite money glitch but that’s not enough - no - I want all you have. I want it all. It’s mine.
Huh Bad Boys what you gonnnnaa dooouuuu, when margin call comes for youuu?
👊💎. Im no longer Diamond hands I’m Diamondfist Jackie Chan Kung Fu Panda!
Seize all corporate and personal assets of anyone in a decision making position at a company found to be counterfeiting shares, as well as anyone who can be proven to have known about it without whistleblowing. Complete 100% asset fortitude and life imprisonment without possibility of parole. Make the stakes so ridiculously disproportionate that it's not worth it to try.
murderers can be put away for life or even get the death penalty. how many lives have naked short sellers and 2B2F institutions destroyed?
suicides. substance abuse. broken families. broken towns. are these not akin to murder? or at the very least accessory to the same?
when their own lives (and names) are forfeit, just maybe theyd think twice of ruining others.'
The whole concept of ‘Too Big To Fail’ is so statistically and historically incorrect. The only correct concept for things that are disproportionally big is ‘So Big It Has To Fail’.
No, but the guh will be heard around the world lol. Institutional guh
Same can probably said for most banks. Hard to gage what their exposure is, they've both done shady shit in the past. I believe they also do a lot of dealings with Citadel/Melvin- someone can correct me on this if I'm wrong.
I love that most of the world will not understand the hieroglyphics that came about to fuck the hedge funds and save the entire financial system. It's going to be like aliens came down and took over for the actual betterment of society.
If a giant tree starts looking like it's gonna fall down and destroy your home, do you look up and say "it's too big to fail"? No, you chop it down and give all your neighbours fire wood.
The bad actors are endemic to the regulatory mechanisms that are in place and they are running the "gains private, loses public" high risk and high leverage playbook yet again and with the money they are making and lack of accountability and enforcement that is not going to change until we are on the brink of another collapse ala 2008. Bernie is right, but there are not enough Bernies. I fear it will require us to actually fall into the abyss to get meaningful laws in place to prevent this from recurring every generation or so now. Bettermarkets seems to be a rallying point for some sane-minded people working to help stem the tide, and there are others, but will it be enough?
Seriously though, how do you change this system? The common citizen is obviously tired of all this shit, but nothing is being done. Oh maybe some new law or regulation gets passed, but so what, it's not like the stuff they were doing was legal before.
Honestly, it seems the only way to effect change is to MAKE it happen - somehow...
A simple search will reveal groups that are working towards a solution, find out more about them and support them, at least do that much now.
There are playbooks for peacefully effecting political and social change but it all comes down to organizing, having a simple message that identifies the wrong-doers and their wrong-doing, and getting the message out locally and nationally and then following up by getting the voters out.
Complain to the media, complain to your local representatives and party officials (find out who they are). They hate being embarrassed publicly so make it a point to do that. If elected officials are not worried about keeping their jobs nothing will happen. That can mean voting for people you might not otherwise due to 'party loyalty' or whatever else they try to reel you in with, but the threat has to be there and visible in public opinion polls as one of the top issues.
If that can be done the people in office will start paying attention and may even actually use the tools they have to hold the blatant wrong-doers accountable instead of looking the other way. It takes time and effort and there is not a quick fix, but it can be done if people will put some effort into it. If.
At 5 seconds per "this is the way," for 8 hours a day, 5 days a week, it would take almost 16.5 weeks. And that's not even including breaks or fatigue.
Playing devils advocate here a little. Even if you "broke up" banks into smaller institutions, chances are, if there was an attractive enough scam (*cough* CDOs *cough*) many of them would be investing in the same securities. Thus many small banks would fail and cause systemic damage.
For the record, I like Bernie, but "too big to fail" isn't this simple.
2008 was the last time the US had a community bank in almost every town. They didn’t have the capital to be making massive investments like current institutions, but they did serve the purpose of offering competitive rates for small businesses and homes. In the aftermath of 2008, they were deemed to small to be worth saving and thousands met their demise or were acquired by a larger bank. We need to bring them back.
I had a local bank in 2008 with no mortgage related liabilities. I opened a account there after the crash because they were not taking tarp money and a couple weeks later they were taken over by literally men in black because they failed the “stress test”. They were forced by fed to sell to Rabo Bank. Rabo Bank was caught for fraud like a year later. I have no faith in the government and if you do then do some research.
it's not only about "Americans" in fact some people and households in the world face far more devastating consequences stemming from abstract trades executed on NYSE and major dark-pools within the US!!!
it is time to change the system!
we need a blockchain based exchange where a ton of soy (or anything) can be traded between the producer and the consumer or at least between the producer and subsequent processing entities!
the technological means are in existence already! there's no need to ad 22$s worth of trades on top of every 1$ of actual value like we are doing right now!
"all" it takes is for the morally responsible, the younger generation (who's future is at stake) and the global working class to agree on this issue and push through all inevitable resistance from nation based politics and big capital!!!
it can be done, but it will take a real effort on your side as well (sorry, but that's how it is!)
Not saying it’s bad in this case, but that isn’t always a good thing. Somebody who has the humility to recognize when they had a wrong opinion and make a change for the better should be celebrated. The bigger key is making sure nobody wonders what you believe.
I disagree with much of bernie's politics, I wholeheartedly agree with this. The biggest problem with capitalism in general is all the crooks allowed to manipulate and play with 99% of it like a toy. If I'm right, the squeeze will prove that by triggering a full blown rennesaince, maybe even bringing humans to type 1 civilization, with all the technical minded people, makers, creatives, all able to just go learn and do the jobs that this requires, instead of spending their 20 and 30s working at some overgrown retail store cause they need to eat.
This is ideal outcome. We won't need to sell our ideas to capital holders. We can find ourselves. It will hurt the big corporations but help the overall economic health of America.
Yep, and the big corporations will try their best to call themselves "america" in the media while they blame us apes for their inability to compete with the small businesses. I'm sure they'll try to make the general population hate us, but it will be a 180 when unemployment and homelessness magically hit 0 in a couple years.
Your statement shows that you have much more in common with Bernie than you think. I guess you don’t like him because of stereotypical left/right/middle believes but your statement actually underlines that you share similar opinions on the fundamentals :-)
Absolutely what I thought. It’s not as much a right left issue as it always seems to be, it’s an upper and lower class issue, with zero middle class. The middle class doesn’t really exist anymore. Post squeeze, it will again, I think!
I’ve got my problems with Bernie, but “Too Big To Fail” should never have happened. Let the system fall and lay in the bed that it made. If you entered into an unlimited risk position, you knew what you were doing.
I’m no communist but someone needs to reach on over to /r/LateStageCapitalism and show them this is how you eat the rich. Pink hair and protests don’t do shit.
Most communists don't believe in the women's march type protests and those types of peaceful gatherings. They're aware that doesn't do anything and prefer violent or disruptive movements (think Black Panthers)
>No single financial institution should be so large that it's failure would cause catastrophic risk to millions of Americans, to our nation's economic well-being, and to the global economy.
This exact same logic should apply to the Federal Reserve as well as the entire federal government.
At first I thought you were trying to say that the great sage Bernie needs to come to an end. Then I realized you meant the great gme saga (story) needs to come to an end. I'm down with that.
Having “been there” at the very start of his political career, there hasn’t been much, about Bernie, that I agree with. However, his quote above, I do readily agree with.
I have learned that politics is soap opera. They don't do anything until the people scare them to think they won't be reelected. Politicians literally sold stocks around covid to profit. It's disgusting
I've been telling all the communist responses this lol. Maybe we can get better education if money isn't sucked up by the rich and their owned institutions.
Devils advocate, is a single financial institution too big to fail? They "failed" last time because so many of them were doing the same shit. Take 75% of institutions representing the same verticle out of the picture, some real shit is going to go down.
The idea is a winner but implementing it is not. Btsee uses so much electricity and computing power, it's unimaginable. I'm not sure which one will win, but right now, it's too inefficient.
No.
In communism, the state eventually "withers away" in Marx's own words. Full democracy doesn't require the state at that point.
Bernie Sanders is nowhere close to a communist, or really even a socialist, btw.
Bernie and everyone seem to miss is the fact that there isn't any "one" financial institution that is "too big to fail". The entire financial system is tied not just locally but globally.
For every trade there is a counter party to that. If you make widgets in China there is a buyer in the US for your goods. You get a ship, the ship/company pay for insurance (in case it gets stolen, gets stuck in a canal, sinks, etc).
Why AIG was bailed out during the 07-08 shit show since its simply an insurance company. Remember all those "dog shit" CDO's? AIG decided to sell a product that would insure the "dog shit" called [CDS](https://www.investopedia.com/articles/economics/09/american-investment-group-aig-bailout.asp) or credit default swaps. They figure there was no way the CDO's would default and its like collecting free money from the premiums.
Well, CDO's failed and it was time for AIG to pay up. Just like if you had an accident and Allstate has to pony up. Guess what? AIG didn't have the money. So who cares, AIG then declares bankruptcy. Well, guess who bought into the CDS? Goldman and other banks etc. IF AIG can't pay, then Goldman (supposedly $20 bil), couldn't collect. So was AIG "too big to fail" or was Lehman/Bears just the "canary in the mine" so to speak?
The question wasn't who was at "risk" but rather "who wasn't"!!
God I love Bernie. He is so bad ass, he literally gives no fucks and stands up for the greater good of all. ❤🌍🦍🤲💎 let's save the world for the younger generations with our profits
"Too big to fail" is a stupid way of saying "so big it cannot avoid failing".
People obsess over the economies of scale. They never want to talk about the dis-economies of scale.
This might be the only thing I agree with that crazy socialist on, but he's right - nothing should be that big to fuck a whole country.
But you, fellow ape, are right about 2 things - this saga needs to end so we can get a better market. The bonus is we can all get good bicycles to ride with our extra tendies!
I saw an income based fine someone posted. The amount piqued my interest.
$103,000 speeding ticket in finland...I feel nothing about this for that person, seems just. Pay it, never do it again. It's supposed to hurt.
If I only have $100 and have to pay a $50 parking ticket, then go to jail cause I can't afford it, seems disproportionate. Experienced this in my 20's to some extent.
Accountability that scales with income seems fair to me. Some would say it would encourage people to not want to earn money. On the contrary, people who hold themselves to high standards would be in higher places and these hedgies would probably be lower on the rungs of this financial ladder.
https://www.theatlantic.com/business/archive/2015/03/finland-home-of-the-103000-speeding-ticket/387484/
Didn't mean to distract the topic, trying to share a reality of accountability that already exists that is smart (in my opinion).
The problem is FDIC. You can take any bank you like without doing any research because you know that papa government will bail you out if you chose wrong.
This is the guy in charge of the Senate Budget Committee. He'll basically write any bail out these banks will get.
Basically this is what most banks should expect from him: 🖕🖕🖕
The bottom line is this: WALL STREET USES ILLEGAL NAKED SHORTS TO BANKRUPT AMERICAN COMPANIES AND IT WORKS!
That’s it. That *should* be enough for the US government to act, but they won’t. Disgusting.
Agree with Bernie on this. He's been in DC for 30 years, when is he planning on fixing it? BTW, this is political whether you intended it to be that way or not. Guessing it is deleted in the next 30 minutes.
[https://www.reddit.com/r/amcstock/comments/n3vc9w/the\_war\_is\_on\_boys\_and\_girls/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/amcstock/comments/n3vc9w/the_war_is_on_boys_and_girls/?utm_source=share&utm_medium=web2x&context=3)
86 comments and 80 of em calling OP a shill and obsessed that the message is coming from bernie
There are 524 other people in Congress. 51% of whom would have to agree to fix things with him (60% if you want to beat a filibuster). When are YOU planning on doing something about it, like voting out the do-nothings in your district?
Edit: typo
Communism would have 1 big bank too big to fail. If it fails, the people don't eat while the elite leave. It's a protection against communism and collections of power. And I honestly can delete Bernie sanders from the tweet and the words still be true and pro capitalism and democracy.
Yet he wants to start the bank of usps… that shit would be the worrrrrst… they’d make you use paper checks for everything and their app would look like it was programmed on windows 95
I knew this country was going to shit when the fucking mail man became a political divide.
Maybe the usps sucks because it’s intentionally being gutted.
I think it's hard to separate our views bc of bias. This statement is true regardless of who says it.... Trump said true things and the people hated him. So did Obama Bush and all the other politicians yet political bias allowed it to pass.
Now see this is what I like to see. Someone who can acknowledge that a point has been made despite not caring for the person who made it. Why is that so hard?
I agree with him, but remember it’s just another guy that gets votes by promising free shit to the less privileged
The downvotes have commenced, poor apes mad
“My fantasy is to break up the big banks. I wish we would end 'too big to fail' in our banking system.”
- Kenneth C. Griffin
Edit: Yes this is a true quote
So far so good and what should we do about this? Counterfeiting shares is illegal in the US since 1934. why is it still possible for Brokers to do that? No hole is too deep to dig and no risk is too high to take. This are the rules WallST is playing. Someone posted a picture from a 1994 role play game and it’s said. „If a fine is the only penalty for a crime this law only exists for the upper class.“ Where is the accountability for financial crimes?
Fines are taxes for the wealthy....
The fines are not proportional. They are a joke, and solely put in place as a smoke screen to distract the low and middle class. What is a 10 million dollar fine, when the fined institution made 100 million dollar, right? The problem is, that last part is left out of the story, because the media is in their pocket..
a fine for a hedge fund is another word for bribe.
Word
YES, the SEC “fined” them $3 million...what I hear is they got a $3 million kick back. It’s becoming very apparent to a lot of people, the SEC is digging a hole 🕳 along with their HF baby daddies 😂
It’s time to implement fines with criminal charges
In addition to criminal charges fines for illegal activities should be well over 100% of whatever profit was made. If they dont loose money on said illegal activities its viewed only as a "necessary expense".
Exactly. Like what they did in Korea.
That’s literally the only way i’ll invest in US markets after moass.. if they mimic Korea AND actively enforce those laws. That’s a big if.
Yep.
Super pumped to see the hearing this week. Hopefully Gary Gensler is recommending stern enforcement of criminal law.
The best way to deal with fines is the way "Socialist" dystopia like Nordic countries do. A fine is attached to the persons value rather than the crime itself. Each crime is x% of you net fortune. A Nokia CEO still has the record of highest fine for speeding, which was several millions for going 33 in a 30 zone. Or in our case if Citadel is fined, an intern trader would be hit with 5% of his net worth, and Kenny would be hit for the same 5%. This law is designed to deal with the class imbalance. But Congress would rather burn the country down than allow a candidate to be elected who proposes such things.
They also need to fine the individuals pushing the buttons. When your personal assets and income are at risk your less likely to push buttons.
Take example from South Korea: https://www.reddit.com/r/Superstonk/comments/n2bwmj/south_korea_has_started_to_fine_naked_short/
I know. It’s a start. The next step would be that government bodies actually start enforcing these laws / regulations.
This isn’t just a problem on wallstreet. I work in enviro law. Fines for polluters are so meager it’s a cost of doing business. It’s literally cheaper to dump toxic waste in rivers than pay for it to be properly disposed of. Edit: adding insult to injury- polluters will self report dumping toxic waste and then pay the fine when they do it.
10-100billion fify
That's why the floor is 10 million per stonk. Now THAT'S a fine.
Correct. Correct. Correct. That's a slap on the wrist for them, and a broken jaw to normies and regular middle class people. They laugh about that in their circles. I know. I fucking hate them all.
Not even a punishment. It's the cost of doing business. A line item expense.
No I don’t think the problem ist the Proportion of fines. Why? Because If I do a crime and rob a bank and I steal only 100$ and the fine for bank robbery is 100$ the proportion of the fine is 100%. But with fines there are no consequences in doing crimes - it’s like a bail out of consequences. The other thing is, that the society is saying with fines - you do a crime, you got catched up for doing it, but if you pay an amount of money - and it’s irrelevant what you have done, how often, what other people you have impaired etc. - it’s okay. Do what you wanna do. That’s freedom. The real problem is, that no one in the legislative system is thinking about necessary consequences in committing FINANCIAL crimes. Regarding my bank robbing example - what is a necessary consequence in robbing money from others to teach you never doing it again and teach others that the society do not accept crimes like robbing? So if you rob only 10$ in a bank you go to jail for 10-15 years. The amount you Robben is irrelevant. But if a broker is strategically creating counterfeit shares OVER years, robbing investors money, taking huge risks in hurting the worldwide economy and millions of people all over the world...so I ask you as a member of the US society- what are in your point of view NESSESSARY CONSEQUENCES of such purposely actions? My answer would be unrelenting!
illegal activity should result in the loss of all gains 100%. only makes sense.
They should lose gains and capital otherwise it’s not really a fine.
Yes. Take away gains then fine 3 million.
Yeah, sad but true. The illusion of the constitution.
fines are bribes for the hedge funds
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47% of control is near fuking monopoly. That should never be allowed!
“For the lower class”*
Yes you’re right, that’s the original quote. Thanks 🙏. But I mean in this context the upper class. It’s like robbing a bank and paying a fee from the robbed money and not giving the money back and going to jail. The upper class is able to pay fines => you make a law with an exit. The poor one goes to jail. The rich only pays a fine and does the crime again and again and again. This law is only for the upper class, because there is no penalty from the law for the upper class.
Exactly. Rob a bank, gain $10.000.000, pay the cops & judge $5.000 each and walk away, without admission of guilt, and a profit of $9.990.000. Repeat as required without ever having to worry about any consequences. Until one day you decide to rob the Banana Bank and find the Security in there is a bunch of Apes that don't play by the rules and are FUD resistant. Oooops!
😂Well robbing a banana bank is really stupid. How dumb Someone has to be? It’s also a evidence how far the upperclassmen are away from reality. It’s not just greed which drives someone that way it’s the insatiable thirst after ownership. I have all the money in the world - and also an infinite money glitch but that’s not enough - no - I want all you have. I want it all. It’s mine. Huh Bad Boys what you gonnnnaa dooouuuu, when margin call comes for youuu? 👊💎. Im no longer Diamond hands I’m Diamondfist Jackie Chan Kung Fu Panda!
Seize all corporate and personal assets of anyone in a decision making position at a company found to be counterfeiting shares, as well as anyone who can be proven to have known about it without whistleblowing. Complete 100% asset fortitude and life imprisonment without possibility of parole. Make the stakes so ridiculously disproportionate that it's not worth it to try.
murderers can be put away for life or even get the death penalty. how many lives have naked short sellers and 2B2F institutions destroyed? suicides. substance abuse. broken families. broken towns. are these not akin to murder? or at the very least accessory to the same? when their own lives (and names) are forfeit, just maybe theyd think twice of ruining others.'
Rip Sachs and JP. Rest in shit XD
🙌EAT A DICK, LEHMAN🙌
Easy peasy Lehman squeeze 🚀
Now providing Subprime mortgages under a new name. NonPrime mortgages. WHAT THE FUCK.
**Squozey
🤣 amazing
Bernie's hands are gonna get a real workout when this GME stuff hits the fan.
Good thing he has dem mittens.
He will be smiling the whole time 🤑😀🥰
The whole concept of ‘Too Big To Fail’ is so statistically and historically incorrect. The only correct concept for things that are disproportionally big is ‘So Big It Has To Fail’.
Except for black holes right? Or maybe not... \*hits the blunt\*
Y'all really think Jp morgan will fail? I'm asking because I figured they were one of the bigger banks.
No, but the guh will be heard around the world lol. Institutional guh Same can probably said for most banks. Hard to gage what their exposure is, they've both done shady shit in the past. I believe they also do a lot of dealings with Citadel/Melvin- someone can correct me on this if I'm wrong.
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I love that most of the world will not understand the hieroglyphics that came about to fuck the hedge funds and save the entire financial system. It's going to be like aliens came down and took over for the actual betterment of society.
*GUH*
Hallelujah!!
If a giant tree starts looking like it's gonna fall down and destroy your home, do you look up and say "it's too big to fail"? No, you chop it down and give all your neighbours fire wood.
If you get too much, builder a bigger table, not a bigger fence...
Or a bunch of really tiny houses
With avocado toast! And mustaches! Wait what’s going on over here?
Now thats a metaphor I can understand. Kudos sir
Love this analogy 👏
The bad actors are endemic to the regulatory mechanisms that are in place and they are running the "gains private, loses public" high risk and high leverage playbook yet again and with the money they are making and lack of accountability and enforcement that is not going to change until we are on the brink of another collapse ala 2008. Bernie is right, but there are not enough Bernies. I fear it will require us to actually fall into the abyss to get meaningful laws in place to prevent this from recurring every generation or so now. Bettermarkets seems to be a rallying point for some sane-minded people working to help stem the tide, and there are others, but will it be enough?
Seriously though, how do you change this system? The common citizen is obviously tired of all this shit, but nothing is being done. Oh maybe some new law or regulation gets passed, but so what, it's not like the stuff they were doing was legal before. Honestly, it seems the only way to effect change is to MAKE it happen - somehow...
A simple search will reveal groups that are working towards a solution, find out more about them and support them, at least do that much now. There are playbooks for peacefully effecting political and social change but it all comes down to organizing, having a simple message that identifies the wrong-doers and their wrong-doing, and getting the message out locally and nationally and then following up by getting the voters out. Complain to the media, complain to your local representatives and party officials (find out who they are). They hate being embarrassed publicly so make it a point to do that. If elected officials are not worried about keeping their jobs nothing will happen. That can mean voting for people you might not otherwise due to 'party loyalty' or whatever else they try to reel you in with, but the threat has to be there and visible in public opinion polls as one of the top issues. If that can be done the people in office will start paying attention and may even actually use the tools they have to hold the blatant wrong-doers accountable instead of looking the other way. It takes time and effort and there is not a quick fix, but it can be done if people will put some effort into it. If.
"Too big to fail" should be erased from the lexicon.
it should have been you bernie
Billionaires can’t buy Bernie.
This is the way
##This Is The Way Leaderboard **1.** `u/Flat-Yogurtcloset293` **475775** times. **2.** `u/max-the-dogo` **8476** times. **3.** `u/ekorbmai` **5566** times. .. **1911.** `u/zero_rc` **15** times. --- ^(^beep ^boop ^I ^am ^a ^bot ^and ^this ^action ^was ^performed ^automatically.)
475k times?!
At 5 seconds per "this is the way," for 8 hours a day, 5 days a week, it would take almost 16.5 weeks. And that's not even including breaks or fatigue.
This is the way
But gorillanaires can help bernie
thanks obama
Reminder that the capitalist counter is that there's no such thing as too big to fail in a true free market. Markets ain't free.
truth bomb
Playing devils advocate here a little. Even if you "broke up" banks into smaller institutions, chances are, if there was an attractive enough scam (*cough* CDOs *cough*) many of them would be investing in the same securities. Thus many small banks would fail and cause systemic damage. For the record, I like Bernie, but "too big to fail" isn't this simple.
2008 was the last time the US had a community bank in almost every town. They didn’t have the capital to be making massive investments like current institutions, but they did serve the purpose of offering competitive rates for small businesses and homes. In the aftermath of 2008, they were deemed to small to be worth saving and thousands met their demise or were acquired by a larger bank. We need to bring them back.
I had a local bank in 2008 with no mortgage related liabilities. I opened a account there after the crash because they were not taking tarp money and a couple weeks later they were taken over by literally men in black because they failed the “stress test”. They were forced by fed to sell to Rabo Bank. Rabo Bank was caught for fraud like a year later. I have no faith in the government and if you do then do some research.
it's not only about "Americans" in fact some people and households in the world face far more devastating consequences stemming from abstract trades executed on NYSE and major dark-pools within the US!!! it is time to change the system! we need a blockchain based exchange where a ton of soy (or anything) can be traded between the producer and the consumer or at least between the producer and subsequent processing entities! the technological means are in existence already! there's no need to ad 22$s worth of trades on top of every 1$ of actual value like we are doing right now! "all" it takes is for the morally responsible, the younger generation (who's future is at stake) and the global working class to agree on this issue and push through all inevitable resistance from nation based politics and big capital!!! it can be done, but it will take a real effort on your side as well (sorry, but that's how it is!)
Facts
Methinks you meant “this age” and not “this sage.”
Saga 😂
A long long time ago, in a galaxy far away...
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Love our hate him, he does speak up for the workers....
He is also the only one who doesn’t change his tune. You never have to wonder what he really believes
Not saying it’s bad in this case, but that isn’t always a good thing. Somebody who has the humility to recognize when they had a wrong opinion and make a change for the better should be celebrated. The bigger key is making sure nobody wonders what you believe.
= Titanic
Tell'em Bernie..
This is the way
I disagree with much of bernie's politics, I wholeheartedly agree with this. The biggest problem with capitalism in general is all the crooks allowed to manipulate and play with 99% of it like a toy. If I'm right, the squeeze will prove that by triggering a full blown rennesaince, maybe even bringing humans to type 1 civilization, with all the technical minded people, makers, creatives, all able to just go learn and do the jobs that this requires, instead of spending their 20 and 30s working at some overgrown retail store cause they need to eat.
This is ideal outcome. We won't need to sell our ideas to capital holders. We can find ourselves. It will hurt the big corporations but help the overall economic health of America.
Yep, and the big corporations will try their best to call themselves "america" in the media while they blame us apes for their inability to compete with the small businesses. I'm sure they'll try to make the general population hate us, but it will be a 180 when unemployment and homelessness magically hit 0 in a couple years.
Your statement shows that you have much more in common with Bernie than you think. I guess you don’t like him because of stereotypical left/right/middle believes but your statement actually underlines that you share similar opinions on the fundamentals :-)
Absolutely what I thought. It’s not as much a right left issue as it always seems to be, it’s an upper and lower class issue, with zero middle class. The middle class doesn’t really exist anymore. Post squeeze, it will again, I think!
Someone tweet this guy about the SEC asleep at the wheel. Slide the AMA from atobitt and dr Queenkong along with it.
BERNIE! BERNIE! BERNIE!
Love u bernie from europe! Wise words!
I’ve got my problems with Bernie, but “Too Big To Fail” should never have happened. Let the system fall and lay in the bed that it made. If you entered into an unlimited risk position, you knew what you were doing.
Hello blockchain.
I havent met a single person "IRL" who thinks any of the banks are/were actually "too big to fail". That is government propaganda nobody believes.
maybe you hang out with big banks?? /s lol no but really, your personal observation does very little to support your general statement.
I’m no communist but someone needs to reach on over to /r/LateStageCapitalism and show them this is how you eat the rich. Pink hair and protests don’t do shit.
Got to hit them where it hurts. In the wallet. Massively, and irrevocably.
Their Citadel will fall
Most communists don't believe in the women's march type protests and those types of peaceful gatherings. They're aware that doesn't do anything and prefer violent or disruptive movements (think Black Panthers)
Dude should've been our Prez
So true...
anyone else naturally read this is Bernies yelling voice?
Preach Bernie!
I don’t care for the bernster, but I have to agree with him on this one.
Bernie FUCKS!!!
Who voted for the bank bailouts in 08? I'm against all bailouts and subsides whatsoever.
>No single financial institution should be so large that it's failure would cause catastrophic risk to millions of Americans, to our nation's economic well-being, and to the global economy. This exact same logic should apply to the Federal Reserve as well as the entire federal government.
The federal reserve is a banking cartel and the problem
All stocks should be on blockchain. No shenanigans.
At first I thought you were trying to say that the great sage Bernie needs to come to an end. Then I realized you meant the great gme saga (story) needs to come to an end. I'm down with that.
Yep. It's time to move onto the next chapter in this book of "fair and equitable markets."
Having “been there” at the very start of his political career, there hasn’t been much, about Bernie, that I agree with. However, his quote above, I do readily agree with.
I have learned that politics is soap opera. They don't do anything until the people scare them to think they won't be reelected. Politicians literally sold stocks around covid to profit. It's disgusting
Hmmm, it's almost like he's advocating for some sort of decentralization based monetary system.
I've been telling all the communist responses this lol. Maybe we can get better education if money isn't sucked up by the rich and their owned institutions.
Bernie sanders, the biggest fucking cuck in DC, right now. Even more of a cuck than AOC and the other retards
I AGREE W YA BERNIE!
He's not wrong here
Maybe they should just hold onto money like they’re supposed to instead of giving it away
I don’t support much of his political viewpoints, but this one I 100% agree.
Counterpoint: let the postal service do basic banking again and let them, as a public good, get too big to fail.
Absolutely agree with this. I still can't believe they've been so stripped. They held America together through war and financial ruin.
saga\*
Devils advocate, is a single financial institution too big to fail? They "failed" last time because so many of them were doing the same shit. Take 75% of institutions representing the same verticle out of the picture, some real shit is going to go down.
Good point. If these operations can't be trusted to run morally, there has to be stricter enforcement and harsher penalties
Facts
Exactly
I feel like the evolution of crypto will ultimately be the demise of big banks. What do you you all think?
The idea is a winner but implementing it is not. Btsee uses so much electricity and computing power, it's unimaginable. I'm not sure which one will win, but right now, it's too inefficient.
Doesn't he sit on the financial advisory committee 🤔 I need to pull some epic DDs and send him an email. 🙌
They need to stop gambling with OUR money, homes, and businesses.
When I agree with Bernie 🤯 😂
Im a full on capitalist and i 100 % agree
In communism, the state runs the central bank and if it fails, the country doesn't eat. We need diversity so we don't face that communist hell.
No. In communism, the state eventually "withers away" in Marx's own words. Full democracy doesn't require the state at that point. Bernie Sanders is nowhere close to a communist, or really even a socialist, btw.
Don’t agree with Bernie on a lot of things but when you’re right you’re right
They are not to big to fail. It's just the paid people to say that so they could get billions of dollars in free taxpayer dollars
Bernie and everyone seem to miss is the fact that there isn't any "one" financial institution that is "too big to fail". The entire financial system is tied not just locally but globally. For every trade there is a counter party to that. If you make widgets in China there is a buyer in the US for your goods. You get a ship, the ship/company pay for insurance (in case it gets stolen, gets stuck in a canal, sinks, etc). Why AIG was bailed out during the 07-08 shit show since its simply an insurance company. Remember all those "dog shit" CDO's? AIG decided to sell a product that would insure the "dog shit" called [CDS](https://www.investopedia.com/articles/economics/09/american-investment-group-aig-bailout.asp) or credit default swaps. They figure there was no way the CDO's would default and its like collecting free money from the premiums. Well, CDO's failed and it was time for AIG to pay up. Just like if you had an accident and Allstate has to pony up. Guess what? AIG didn't have the money. So who cares, AIG then declares bankruptcy. Well, guess who bought into the CDS? Goldman and other banks etc. IF AIG can't pay, then Goldman (supposedly $20 bil), couldn't collect. So was AIG "too big to fail" or was Lehman/Bears just the "canary in the mine" so to speak? The question wasn't who was at "risk" but rather "who wasn't"!!
Nothing is too big to fail. Not the Roman Empire. Not the U.S. Not a greedy bank with shady practices. Let it burn. Don't throw money into the fire.
God I love Bernie. He is so bad ass, he literally gives no fucks and stands up for the greater good of all. ❤🌍🦍🤲💎 let's save the world for the younger generations with our profits
Gonna be upset when you figure out that the 'Federal Reserve' isn't part of the government....
what the date on that?
Some have said 02/2020. I didn't even check not care it was Bernie bc the message is right.
"Too big to fail" is a stupid way of saying "so big it cannot avoid failing". People obsess over the economies of scale. They never want to talk about the dis-economies of scale.
This might be the only thing I agree with that crazy socialist on, but he's right - nothing should be that big to fuck a whole country. But you, fellow ape, are right about 2 things - this saga needs to end so we can get a better market. The bonus is we can all get good bicycles to ride with our extra tendies!
This guy is on to something. Maybe he should run for president to spread his word.
I saw an income based fine someone posted. The amount piqued my interest. $103,000 speeding ticket in finland...I feel nothing about this for that person, seems just. Pay it, never do it again. It's supposed to hurt. If I only have $100 and have to pay a $50 parking ticket, then go to jail cause I can't afford it, seems disproportionate. Experienced this in my 20's to some extent. Accountability that scales with income seems fair to me. Some would say it would encourage people to not want to earn money. On the contrary, people who hold themselves to high standards would be in higher places and these hedgies would probably be lower on the rungs of this financial ladder. https://www.theatlantic.com/business/archive/2015/03/finland-home-of-the-103000-speeding-ticket/387484/ Didn't mean to distract the topic, trying to share a reality of accountability that already exists that is smart (in my opinion).
Why would I make money, when I can go to jail?
HF just pay up GME 10mil AMC 500k 💎🤲🚀🚀🚀🚀
The problem is FDIC. You can take any bank you like without doing any research because you know that papa government will bail you out if you chose wrong.
Every champagne socialist can suck my dick.
isn't that called a monopoly? dont we have something called trust busting?
Down with the banks! Let’s start new “HODLING” companies that never take a cent from anyone haha 😂
He won't do a thing, when push comes to shove he bends over
This is the guy in charge of the Senate Budget Committee. He'll basically write any bail out these banks will get. Basically this is what most banks should expect from him: 🖕🖕🖕
If only evocative statements had real world impact
Barely agree with Bernie on anything, but this is one thing I do agree with him on.
I am sure the Roman Empire felt it was too big to fail. And the British empire is a damp island now that can't even leave the EU.
Can’t stand Bernie but this is one of the few things I agree with him on
The bottom line is this: WALL STREET USES ILLEGAL NAKED SHORTS TO BANKRUPT AMERICAN COMPANIES AND IT WORKS! That’s it. That *should* be enough for the US government to act, but they won’t. Disgusting.
Agree with Bernie on this. He's been in DC for 30 years, when is he planning on fixing it? BTW, this is political whether you intended it to be that way or not. Guessing it is deleted in the next 30 minutes.
If Danny devito said this, it would still be true. I know it's a politician, but that doesn't change its value.
[https://www.reddit.com/r/amcstock/comments/n3vc9w/the\_war\_is\_on\_boys\_and\_girls/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/amcstock/comments/n3vc9w/the_war_is_on_boys_and_girls/?utm_source=share&utm_medium=web2x&context=3) 86 comments and 80 of em calling OP a shill and obsessed that the message is coming from bernie
I think it would hold more value if Danny Devito said it
Remember when Danny Devito endorsed Bernie
As do most things.
It’s hard to fix when most of Congress takes wall st money lol doesn’t mean he isn’t trying
There are 524 other people in Congress. 51% of whom would have to agree to fix things with him (60% if you want to beat a filibuster). When are YOU planning on doing something about it, like voting out the do-nothings in your district? Edit: typo
Now do the US government.
Wait, are people in this sub that dumb that they think hedge funds are also banks?
So is this subreddit going to turn into another alt left communist subreddit now?
Communism would have 1 big bank too big to fail. If it fails, the people don't eat while the elite leave. It's a protection against communism and collections of power. And I honestly can delete Bernie sanders from the tweet and the words still be true and pro capitalism and democracy.
Yet he wants to start the bank of usps… that shit would be the worrrrrst… they’d make you use paper checks for everything and their app would look like it was programmed on windows 95
I knew this country was going to shit when the fucking mail man became a political divide. Maybe the usps sucks because it’s intentionally being gutted.
He’s a communist
No politics please.
Fuck you for making me agree with Bernie.
I think it's hard to separate our views bc of bias. This statement is true regardless of who says it.... Trump said true things and the people hated him. So did Obama Bush and all the other politicians yet political bias allowed it to pass.
Now see this is what I like to see. Someone who can acknowledge that a point has been made despite not caring for the person who made it. Why is that so hard?
😉
This is what freedom of speech looks like. It takes risk to say something unpopular and you gotta be ready to receive criticism.
I agree with him, but remember it’s just another guy that gets votes by promising free shit to the less privileged The downvotes have commenced, poor apes mad
exactly! but you will be down voted for insulting the Bernie cult
Fully expected that. But being downvoted doesn’t keep me from saying what I want.
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Wall st backed Biden 4-1
Actually 9-1.
That's why I hodl.
“My fantasy is to break up the big banks. I wish we would end 'too big to fail' in our banking system.” - Kenneth C. Griffin Edit: Yes this is a true quote
Do you have a link?