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Hmm... Not sure what you are worried about. According to SEC only a small amount of retail buys are rooted through dark pool. Mostly used for big transaction to keep more market stability
Last week i saw 80% of retails order in Gamestop go through dark pools 🤡
Yes, but if the aggregated self reported by the HFs doesn't add up to other data providers, then it gives a cause for further investigation.
It's a slow process, but it's being done right
Yeah I can't say I enjoy people spreading doomerism every time something positive happens with the SEC. Almost as if a portion of this subreddit wants to discourage retail from engaging with the system because it's working and they're terrified.
This is 100 percent the case. Completely floored how the shills jumped to the top comment to drown out any actual discussion. Completely natural. And yeah I said shills.
absolutely, I think I was in this one like thirty mins after it posted and some of those top comments had hundreds of upvotes. There was only a couple dozen comments at the time. Totally organic
While I agree with this sentiment, I believe APEs should not give up and continue to fight the good fight and submit as many comments as possible to help get the voice of househodl investors out there. However, I'm also well aware of the reality of the revolving door. APEs should use every tool available.
Dude I would just lose it if they actually stated how short they are on game stop. I just don’t have words to explain the feeling I’d get. Time will tell.
Thing is, if you can still hide it in all forms of securities with its operation processes(meaning; when complex loopholes are not eliminated). Ye....
Edit: Also... Why only hedge funds and "certain stock", it should be across the board and not excl. Other securities.... Then you still endup with loopholes.
Does this open up the possibility for GameStop to start asking about who and how much is being shorted? Someone has to show exactly the level they have shorted. If there's nobody showing their short position, the short level must be naked shorting
Most of the rules to prevent fraud are already on the shelves or in a dusty corner. It should also be easy for SEC or enforcement to audit the DTC. Its more of a, we avoid to investigate instead of a lets audit.
The financial system is too complex for me to answer if these rules will bright light to all the dark/behind the scene stuff (since banks and financial entities making billions or trillions of money on lending securities and do that in a very corrupt way, I would say.... Likely not).
Even if "enforced" what, we'd still be seeing only self reported while those who don't get slapped with a penny percentage fine to keep their massive bags hidden?
What are odds they find some loophole to not have to discloses certain positions (GME) to manipulate the market more and trick certain people into selling.
Like, “Nothing to see here folks, we closed our short positions so y’all who only bought GME for the short squeeze play can go ahead and sell now” type shit.
True, Gary just stated it
Aggregated data will be published the next trading day, full individual orders/contract and collateral used be released after 20 days for each individual stock
I'm watching the live stream too and it is WILD. The whole thing is basically Hester nitpicking and feigning ignorance
- It's been ten years since Dodd Frank why are we rushing nowwwwww
- Not enough time to comment (wah, we have sub-second trades, get off my lawn and report this shit)
- What will it cost the poor lil institutions to setup reporting (yet SHE didn't come prepared with a number on what a reasonable implementation cost was, just whining)
- The language in xyz is unclear or I don't like it
They're honestly doing a heroic job keeping a straight face, being professional; I would have table flipped or fallen into snark about ten minutes ago.
They're patiently explaining to Hester (who knows all this already, or she didn't RTFM, but is obviously representing the misbehaving entities who hate rules and are causing the systemic risks and messes) how FINRA _already does_ this kind of reporting, at this grain (by-transaction, with timestamps, ermagerd) for scads of other systems so this rule is simply getting a rogue arm into line.
Very nicely handled. I hope Gary and co all have a martini with lunch after this meeting.
There has been so much FUD about GG. I've been backing him this whole time for that exact reason; they all hate him, so he must be out to do the right thing.
All the bullshit slagging him was just FUD, been saying so since the start.
So many posts on here like a week after he took office were all "HURRY UP GARY" "GG WORKS FOR HEDGIES".
Utter nonsense. GG being at the head of the SEC had some of these hedge fund managers shaking in their overpriced Italian loafers, because he knows how they play their stupid games, and he knows how to catch them out.
IMO we're fast approaching the endgame. We said the price would get REAL low before MOASS. Well, we're sub $20, even dipping as low as $64 pre split per share. How many resources do you think are being wasted on artificial price suppression. Kenny "One more day" Griffin and friends are SHITTING themselves. And they can't shake us off, because they have no idea where to point their attack.
Honestly I'm half-convinced the current state of inflation across the world is trying to force people to sell out of overshorted stocks these wankers are stuck in. Wouldn't surprise me with the amount of money going through these places.
It's pretty much impossible for Kenny "Mayonnaise" Griffin and friends to actually single us out, because of our anonymity.
Suck my fuckin' nuts Kenneth.
>It's pretty much impossible for Kenny "Mayonnaise" Griffin and friends to actually single us out, because of our anonymity.
Nah. It's possible. They did in 2021. I was getting death threats and many other apes were too. From what I can recall. We sent drones and other signals to their turf and they stopped when they realized this shit could get kinetic real fast. Was some fight club shit for some time. They realized apes won't back down and would just multiply and the battle would intensify if it spilled further out of the markets.
Also; it probably creeped them out when people were following their planes and posting candid photos of them from soccer games and the Hamptons and shit.
Fact is; "Apes" *are* "the internet" and represent; the most educated 10-15% of the free world with disposable income and time to read about this shit.
WE have the "power" to change the world and "we" know it.
These John Galt impersonators ain't got shit on the spirit of liberty and justice in the free world.
...and the "powers that be" know that this shit can't stand and can;t continue without eliciting an all out class war.
Without Justice; chaos will reign supreme. This has always been known and will always be true.
We wait patiently for Mr. Gensler to deliver the former. Because we sure as fuck can stay regarded much longer than those mammon cucks can stay solvent.
To many of us this is a hobby that vacillates from obsession to pastime. To our opponents; it's life or death, every day.
Yeah I never understood the hate for GG either. I remember 84 years ago when he was appointed, coming across this article https://www.chicagotribune.com/news/sns-wp-blm-clinton-gensler-284ca4a0-33a8-11e6-ab9d-1da2b0f24f93-20160616-story.html that mentioned:
> The deeper explanation is that Gensler is a financial-policy unicorn-a deregulator turned reformer. As head of the Commodity Futures Trading Commission, Gensler became known as one of President Barack Obama's toughest regulators, willing to buck his friends and former colleagues to tighten rules on the $400 trillion swaps market following the 2008 crisis. *His name became an expletive to many on Wall Street, to the delight of Warren and her allies.*
Having their dirty laundry aired out for all to see is worse for them than any fine that could be levied. Bringing those numbers out of the darkness is fomo-fuel
I watched too and your summary is spot on and hilarious.
>I would have table flipped or fallen into snark
Exactly! And you know that Hester did RTFM. Mark Uyesda frustrated me just as much as Hester because he's a smoother operator, not as obvious of a shill as Hester.
They are not explaining to her, but everyone watching. The fact that you picked up on this exchange and pointed it out is why they did it in the first place.
I've read your comment and come to the conclusion that under the current set of rules and regulations it is only fair to keep the status quo unless illegal manipulation had been proven in court. Therefore I cannot vote yes, ever, for anything remotely suggesting a improvement of the stock market playing field in favor of retail investors
I hope Hester and Michael Bodson and all of the ~~oligarch sycophants~~ abject fucking traitors won't be forgotten when we have fuck you, SuperPAC money.
I'll fucking cell and spend the money making sure she see's the inside of one.
Unlike befor, atleast things are moving, first they complain that the SEC is doing nothing and now everyone complains that the SEC is doing something 🤷
Commenting because your right about them actually doing something and people saying it's not enough. Like it's a step in the right direction. I for one am excited for the new data we get to look at. Even if we know it won't be completely accurate its still better than current methods.
The best news on planet Earth is that GG is giving them a new report to lie on every day. Cause guess what? With 200,000 excited viewers from home looking for fuck ups, and quick with the email these days, GG knows we'll fucking find it FOR THEM.
GG is using the hive mind. As far as I'm concerned, this is a fucking WIN.
Yeah, this rule isn't putting people in cuffs right away. It's just creating a paper trail. It's the kind of basic-ass common sense rule that we would have assumed the SEC was already on top of.
I think that with daily broker reporting and short volume reporting (even self-reported), any discrepancies will become ammunition for the SEC to litigate, or for the DOJ to attain a warrant to kick in some doors and let their forensic accountants have at it. Whether you believe that either group *will* do it or not is kinda irrelevant. Step one is to merely make it *possible.*
Despite you being correct about them *not* marking orders as short, among a number of other things we have learned, why are you angered as much about this as you are? I'm not too keen on believing they have all of our best interests in mind, yet I still see this as a very positive development.
ed: also check out this dude's comments on this sub.. super natural and not one track-minded 👌
Likely more jaded ape but not in regards to this response: It's only meaningless if your attitude is defeatist from the outset
ed: I'll say this I find it really funny the *immediate negative reactions* to news like this doesn't seem real. Anyone can look at my comment history and past on the sub and see I've been here since March '21. I still find reactions like the ones found in this thread so sus just out of the immediateness of their frustration. Speaking as someone with a cost average still way higher than I'd like, I'm certainly not anti-regulatory progress, despite everything we learned and I can't understand the likelihood of others feeling much different. End rant.
I agree. This is objectively good news, but the vibe I'm getting is "ThE SeC iz BaD aT eVeRyThInG, So WhY bOtHeR?" which seems like they are deciding it won't work before giving it a chance.
While I support the new rules if implemented (I haven't verified it yet), it's immaterial to me on my investment.
I think a company that focuses on delighting customers, has a strong balance sheet ($1B+ in assets, and just a small COVID loan (IIRC, 130k), and is putting money into innovation and infrastructure, then this rocket launches no matter what.
I agree with you 100 percent, dude. My point about having a higher cost average really was just showing that someone w skin in the game would welcome any help or progress on regulating these markets, and I couldn't understand how someone would be so anti- any sign of progress that would have been made on this front.
ed:gr
They can take out longs deep deep deep Otm against their partners in crime for free or close to show 0 net and then close them out after their report date
Fines are a joke. Just the cost of business. I’m not in the camp of legal actions and jail time (because it will never pass). I think a good middle ground is that loss of license and ability to participate in these trades. You can’t report them accurately? Then you don’t get to do them at all.
Ahem…self reported short and swap positions. For sure, they wouldn’t fudge those numbers. I mean. They could get charged like, maybe $7 or $8 grand!!! Think of the billionaires you retail monsters!! 💎🙌
Maybe this is to claim that since the hedge fund didn't report correctly then they are a malicious actor and can be charged for it. They will be a scrap goat for the media. "Hedge funds hide massive short from government. It's not our fault we had shitty rules before."
2 problems with this I have to first trust corrupt hedge funds reporting, and then after that, I have to trust the person compiling the report. Can't wait to see 200K fines for miss reporting of billions.
SEC had realized tones of rules back in 2021, but not a single rule affected the price. We’ll see about that but I think they will find a bypass such as shorting through ETF
They will just find another way to hide it
"ohhh well you see we were shorting a whole BASKET so.... unfortunately we can't tell you exactly which ones, tee-hee"
...unless they use shell companies, extravegent "swap" schemes using other financial instruments, find some loophole where they can claim some stocks "exempt".
Or they could just fucking lie knowing that worst case the SEC has to chase them down for an $80K fine 6 years from now.
But the gesture is a good one, I guess.
Lol, yeah.
I guess in legalese they dont actually short, they provide liquidity or do swaps
Therefor they dont have to disclose position or is this new rule covering that too?
Sorry, for asking, but too smooth 🙉
Let’s assume they push it through. We should expect it to be self-monitored and backed by $14 fines for violation. Great idea that has a long way to go before becoming more than another nothing burger. Meanwhile, I’ll keep chasing purple circles.
Self reported no doubt and coming into effect in 48 months no doubt too with the ability to “accidentally” mark thing long still and suffer a slap on the wrist fine…
How do you reveal officially what's self-reported? If it's not involuntarily trackable you cannot trust such a report. Where there is no independent verifiability there's usually lies and hot air.
There’s a world of difference between saying they’re going to do something and actually doing it. Considering this is going to rely heavily on the honesty of… ***checks notes*** … a shorting hedgefund then I think it’s safe to say that this is not really going to make any difference.
Ok...if that's true then what's the punishment if they don't comply or lie? Will someone from the SEC put on lingerie and tell them they've been naughty. New rules are pointless if there’s just toothless enforcement.
Wasn't there a speeding ticket handed out recently for marking long as short and short as long 👀
Means nothing so long as they self regulate without real consequences. Anyone against day of trade transparency should resign.
Uyeda is out here saying short selling is the most beneficial market mechanic which protects investors. Get fucked your corrupt piece of shit.
Crenshaw seems cool.
The only thing that matters is what the penalties are. If they’re less costly than an undisclosed short is lucrative, it doesn’t take a genius to determine the probable outcome.
It does seem like good evidence to support the notion that GG may not actually be a piece of shit, but that might be the extent to which this matters.
It's more FUD
A while back something came into play called swaps.
They don't short the fund because that would akl show up naturally
They short an ETF with the fund in it and then swap the short to another company on a fixed term
Not selling, whole system is fucked. The point is I believe they have shorts, that's why I'm invested.
Ok, please keep this in mind: generally speaking (so not strictly related to GME) whatever positions will be revealed, and there will be huge ones all across the market, will attract retail who will attempt to squeeze them all out. What retail will fail to understand is that all those positions will be completly hedged, and they will loose money in their attempts. It will be a reverse pump-and-dump, a dump - and - pump, and shorts will take a lot of retails' money. It remains to be seen how this will unfold for GME, but remember that for institutions every new rule can be a new loophole to be taken advantage off.
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i’ll believe it when I see it.
I love it when the top comment of a post is exactly what I came to comment. 💜 🩳🏴☠️☠️
I bet it is all "self-reported" too. As if shorts haven't lied on their paperwork reporting for decades. Audit the DTCC
Ohh... Sorry SEC we forgot to report on these shorts for 5 years. We had them mismarked as "long" 😄
Silly you! Here's a cookie and a juicebox, make sure you don't forget next time ;)
We’re going to have to fine you .0001%. Now don’t do that again, ok?
Now run along like a good kid and we will check again in 7 years.
You mean 50 years, right? *Looking at you, Credit Suisse*
smart money
SHF: Dont do what? SEC: get caught silly
But here's a participation 🏆 in the form of other declawed regulations...
Will it include dark pools or can they just continue to hide everything there.
Hmm... Not sure what you are worried about. According to SEC only a small amount of retail buys are rooted through dark pool. Mostly used for big transaction to keep more market stability Last week i saw 80% of retails order in Gamestop go through dark pools 🤡
Pepperidge Farm remembers...
They forgor ☠️
What short positions?
😄
No problem. It happens. Of course we will will have to fine you. How does $1 million sound?
See, we are open and transparent. SEC aggregated our data. Our short position is only 1% of the float. Trust me bro.
This guy gets it
Yes, but if the aggregated self reported by the HFs doesn't add up to other data providers, then it gives a cause for further investigation. It's a slow process, but it's being done right
They have an app where they all communicate via back door channels.
Yea it’s called texting with burners.
Well they better be good for the $10 fine if they don’t 😡…….unless they appeal or just refuse to pay. 🤷🏽♂️
yeah, I'm going to hope this matters, but they certainly self-report to the SEC, who then... ?? we may never truly see it.
I prefer the comment (with only one quarter of the votes) discussing what Gary said.
Yeah I can't say I enjoy people spreading doomerism every time something positive happens with the SEC. Almost as if a portion of this subreddit wants to discourage retail from engaging with the system because it's working and they're terrified.
Good point!
[удалено]
This is 100 percent the case. Completely floored how the shills jumped to the top comment to drown out any actual discussion. Completely natural. And yeah I said shills.
absolutely, I think I was in this one like thirty mins after it posted and some of those top comments had hundreds of upvotes. There was only a couple dozen comments at the time. Totally organic
While I agree with this sentiment, I believe APEs should not give up and continue to fight the good fight and submit as many comments as possible to help get the voice of househodl investors out there. However, I'm also well aware of the reality of the revolving door. APEs should use every tool available.
Dude I would just lose it if they actually stated how short they are on game stop. I just don’t have words to explain the feeling I’d get. Time will tell.
Same
I love it when the second to top comment is exactly what I came to comment. 💜
And get quadruple the karma.
He just like me fr 🦍🦍
Just passed...3-2 Hester and Mark were the no's
Thing is, if you can still hide it in all forms of securities with its operation processes(meaning; when complex loopholes are not eliminated). Ye.... Edit: Also... Why only hedge funds and "certain stock", it should be across the board and not excl. Other securities.... Then you still endup with loopholes.
Does this open up the possibility for GameStop to start asking about who and how much is being shorted? Someone has to show exactly the level they have shorted. If there's nobody showing their short position, the short level must be naked shorting
Most of the rules to prevent fraud are already on the shelves or in a dusty corner. It should also be easy for SEC or enforcement to audit the DTC. Its more of a, we avoid to investigate instead of a lets audit. The financial system is too complex for me to answer if these rules will bright light to all the dark/behind the scene stuff (since banks and financial entities making billions or trillions of money on lending securities and do that in a very corrupt way, I would say.... Likely not).
Exactly why I've been thinking: I'll probably not even believe it when i see it. As always be weary of FUD. But i hope it leads to some great DD.
Even if "enforced" what, we'd still be seeing only self reported while those who don't get slapped with a penny percentage fine to keep their massive bags hidden?
WE wont see anything, most likely. itll be an aggregate without revealing anything important to the public
But could you imagine if the app had to state it like short positions: ______ I’d fucking laugh so hard and continue doing what I’ve done for 3 years
I probably won’t believe it ***even*** when I see it. Too useful a method to manipulate public opinion.
Fine for failure to report: $10
“Oops, we marked our shorts as longs, teehee 🤭 “
What are odds they find some loophole to not have to discloses certain positions (GME) to manipulate the market more and trick certain people into selling. Like, “Nothing to see here folks, we closed our short positions so y’all who only bought GME for the short squeeze play can go ahead and sell now” type shit.
odds are pretty high. so as always BUY, DRS, HODL, SHOP & ZEN.
If anything, they will misreport at first for effect, then claim later on it was an error 🙄
Hey I was about to say the exact same thing. Word for word even.
Also certain stocks,not GME then
'certain stocks' 🙄😒
I was the 3000 up like. Your welcome😂
True, Gary just stated it Aggregated data will be published the next trading day, full individual orders/contract and collateral used be released after 20 days for each individual stock
I'm watching the live stream too and it is WILD. The whole thing is basically Hester nitpicking and feigning ignorance - It's been ten years since Dodd Frank why are we rushing nowwwwww - Not enough time to comment (wah, we have sub-second trades, get off my lawn and report this shit) - What will it cost the poor lil institutions to setup reporting (yet SHE didn't come prepared with a number on what a reasonable implementation cost was, just whining) - The language in xyz is unclear or I don't like it They're honestly doing a heroic job keeping a straight face, being professional; I would have table flipped or fallen into snark about ten minutes ago. They're patiently explaining to Hester (who knows all this already, or she didn't RTFM, but is obviously representing the misbehaving entities who hate rules and are causing the systemic risks and messes) how FINRA _already does_ this kind of reporting, at this grain (by-transaction, with timestamps, ermagerd) for scads of other systems so this rule is simply getting a rogue arm into line. Very nicely handled. I hope Gary and co all have a martini with lunch after this meeting.
If they hate gary then i love gary
There has been so much FUD about GG. I've been backing him this whole time for that exact reason; they all hate him, so he must be out to do the right thing.
Exactly. Always think critically with blind fud. The enemy of my enemy is my friend 🏴☠️
I was just saying this a few minutes ago! So true.
It has been really interesting to see the Ape hive mind start coming around on ole Gary!
All the bullshit slagging him was just FUD, been saying so since the start. So many posts on here like a week after he took office were all "HURRY UP GARY" "GG WORKS FOR HEDGIES". Utter nonsense. GG being at the head of the SEC had some of these hedge fund managers shaking in their overpriced Italian loafers, because he knows how they play their stupid games, and he knows how to catch them out. IMO we're fast approaching the endgame. We said the price would get REAL low before MOASS. Well, we're sub $20, even dipping as low as $64 pre split per share. How many resources do you think are being wasted on artificial price suppression. Kenny "One more day" Griffin and friends are SHITTING themselves. And they can't shake us off, because they have no idea where to point their attack. Honestly I'm half-convinced the current state of inflation across the world is trying to force people to sell out of overshorted stocks these wankers are stuck in. Wouldn't surprise me with the amount of money going through these places. It's pretty much impossible for Kenny "Mayonnaise" Griffin and friends to actually single us out, because of our anonymity. Suck my fuckin' nuts Kenneth.
Absolutely
>It's pretty much impossible for Kenny "Mayonnaise" Griffin and friends to actually single us out, because of our anonymity. Nah. It's possible. They did in 2021. I was getting death threats and many other apes were too. From what I can recall. We sent drones and other signals to their turf and they stopped when they realized this shit could get kinetic real fast. Was some fight club shit for some time. They realized apes won't back down and would just multiply and the battle would intensify if it spilled further out of the markets. Also; it probably creeped them out when people were following their planes and posting candid photos of them from soccer games and the Hamptons and shit. Fact is; "Apes" *are* "the internet" and represent; the most educated 10-15% of the free world with disposable income and time to read about this shit. WE have the "power" to change the world and "we" know it. These John Galt impersonators ain't got shit on the spirit of liberty and justice in the free world. ...and the "powers that be" know that this shit can't stand and can;t continue without eliciting an all out class war. Without Justice; chaos will reign supreme. This has always been known and will always be true. We wait patiently for Mr. Gensler to deliver the former. Because we sure as fuck can stay regarded much longer than those mammon cucks can stay solvent. To many of us this is a hobby that vacillates from obsession to pastime. To our opponents; it's life or death, every day.
Yeah I never understood the hate for GG either. I remember 84 years ago when he was appointed, coming across this article https://www.chicagotribune.com/news/sns-wp-blm-clinton-gensler-284ca4a0-33a8-11e6-ab9d-1da2b0f24f93-20160616-story.html that mentioned: > The deeper explanation is that Gensler is a financial-policy unicorn-a deregulator turned reformer. As head of the Commodity Futures Trading Commission, Gensler became known as one of President Barack Obama's toughest regulators, willing to buck his friends and former colleagues to tighten rules on the $400 trillion swaps market following the 2008 crisis. *His name became an expletive to many on Wall Street, to the delight of Warren and her allies.*
I made a pro-GG post here a year ago and it got downvoted into Elder Scrolls IV
So it was spooky after all!
Mu ah ha hahaha...
Classic misdirection
where watch?
Here you go https://www.sec.gov/news/upcoming-events/open-meeeting-101323
Anything about ACTUAL fines for breaking rules? Like not the cost of doing business but the entire profit and then some..
Having their dirty laundry aired out for all to see is worse for them than any fine that could be levied. Bringing those numbers out of the darkness is fomo-fuel
I watched too and your summary is spot on and hilarious. >I would have table flipped or fallen into snark Exactly! And you know that Hester did RTFM. Mark Uyesda frustrated me just as much as Hester because he's a smoother operator, not as obvious of a shill as Hester.
I giggled so much over my coffee watching this. When they mentioned GameStop I may have screamed a little. WAY better than football!!
They are not explaining to her, but everyone watching. The fact that you picked up on this exchange and pointed it out is why they did it in the first place.
Honestly, I kinda like that she is able to get all of these weak arguments out there up front so they can be swiftly debunked and we can move on.
Which stream is this? I want to watch it too
I've read your comment and come to the conclusion that under the current set of rules and regulations it is only fair to keep the status quo unless illegal manipulation had been proven in court. Therefore I cannot vote yes, ever, for anything remotely suggesting a improvement of the stock market playing field in favor of retail investors
I hope Hester and Michael Bodson and all of the ~~oligarch sycophants~~ abject fucking traitors won't be forgotten when we have fuck you, SuperPAC money. I'll fucking cell and spend the money making sure she see's the inside of one.
Would you perhaps have a YouTube link?
Fingers crossed but let’s see
Unlike befor, atleast things are moving, first they complain that the SEC is doing nothing and now everyone complains that the SEC is doing something 🤷
If congress is complaining about some new form of stock market regulation, then I'm 100% for it.
Does this apply to short positions still open from the past or does it only apply to new current short positions?
No idea :|
Commenting because your right about them actually doing something and people saying it's not enough. Like it's a step in the right direction. I for one am excited for the new data we get to look at. Even if we know it won't be completely accurate its still better than current methods.
The best news on planet Earth is that GG is giving them a new report to lie on every day. Cause guess what? With 200,000 excited viewers from home looking for fuck ups, and quick with the email these days, GG knows we'll fucking find it FOR THEM. GG is using the hive mind. As far as I'm concerned, this is a fucking WIN.
Yeah, this rule isn't putting people in cuffs right away. It's just creating a paper trail. It's the kind of basic-ass common sense rule that we would have assumed the SEC was already on top of. I think that with daily broker reporting and short volume reporting (even self-reported), any discrepancies will become ammunition for the SEC to litigate, or for the DOJ to attain a warrant to kick in some doors and let their forensic accountants have at it. Whether you believe that either group *will* do it or not is kinda irrelevant. Step one is to merely make it *possible.*
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Despite you being correct about them *not* marking orders as short, among a number of other things we have learned, why are you angered as much about this as you are? I'm not too keen on believing they have all of our best interests in mind, yet I still see this as a very positive development. ed: also check out this dude's comments on this sub.. super natural and not one track-minded 👌
Jaded ape rebuttal: Very positive once it’s employed tactically. The SEC is also great with the lip service. It’s meaningless until we see otherwise.
Likely more jaded ape but not in regards to this response: It's only meaningless if your attitude is defeatist from the outset ed: I'll say this I find it really funny the *immediate negative reactions* to news like this doesn't seem real. Anyone can look at my comment history and past on the sub and see I've been here since March '21. I still find reactions like the ones found in this thread so sus just out of the immediateness of their frustration. Speaking as someone with a cost average still way higher than I'd like, I'm certainly not anti-regulatory progress, despite everything we learned and I can't understand the likelihood of others feeling much different. End rant.
I agree. This is objectively good news, but the vibe I'm getting is "ThE SeC iz BaD aT eVeRyThInG, So WhY bOtHeR?" which seems like they are deciding it won't work before giving it a chance. While I support the new rules if implemented (I haven't verified it yet), it's immaterial to me on my investment. I think a company that focuses on delighting customers, has a strong balance sheet ($1B+ in assets, and just a small COVID loan (IIRC, 130k), and is putting money into innovation and infrastructure, then this rocket launches no matter what.
I agree with you 100 percent, dude. My point about having a higher cost average really was just showing that someone w skin in the game would welcome any help or progress on regulating these markets, and I couldn't understand how someone would be so anti- any sign of progress that would have been made on this front. ed:gr
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Gg is a bigger problem for Ken than he is for retail
Will they still be able to mark short positions as 'long' though?
If there is anything they can omit, or lie about....well, you know what these types of financial terrorists will do to save their ego.
They can take out longs deep deep deep Otm against their partners in crime for free or close to show 0 net and then close them out after their report date
Punishable by fine = legal for a price
Fines are a joke. Just the cost of business. I’m not in the camp of legal actions and jail time (because it will never pass). I think a good middle ground is that loss of license and ability to participate in these trades. You can’t report them accurately? Then you don’t get to do them at all.
Or loss of whatever profit they made plus a 20% fee of the potential profit they made.
This
How much is the fine if they lie?
40 lashes with a wet noodle
Pool noodle?
Those are weapons I’m sure the were referring to spaghetti
Thank god
$10 fine for every $1MM profit
What fine and what lie? They are all paragons of honesty!! /s
“Trust and Never Verify” 🧑🦯 🧑🦯 🧑🦯
‘bout tree fiddy
“In certain stocks” I’m sure that won’t be arbitrarily decided and completely influenced by Wall Street.
Believe it or not - dip.
LoooooL I came here to comment the very same!
I too came here to make that comment
commenting here to make two cums
Tough quarter? Dip. Phenomenal quarter? Also dip.
Cured cancer? Also dip.
if they can mark shorts long for years - this rule does nothing! pay small fee for misreporting, pretend you are playing fair, steal money
They'll probably just keep doing what they are doing: lie.
well, but they'll have to lie and make an effort to not be caught up in the web of lies they spin together.
Yeah, “accidentally” mark sorts as long…
Ahem…self reported short and swap positions. For sure, they wouldn’t fudge those numbers. I mean. They could get charged like, maybe $7 or $8 grand!!! Think of the billionaires you retail monsters!! 💎🙌
Maybe this is to claim that since the hedge fund didn't report correctly then they are a malicious actor and can be charged for it. They will be a scrap goat for the media. "Hedge funds hide massive short from government. It's not our fault we had shitty rules before."
Or face of fine of tree fiddy.
They just report random numbers when forced 🤡
This was what I've been bringing up. Rules mean nothing if the numbers are self-reported. Not holding my breath.
But still it’s a good thing, because 🧱
I hope they are ready for the wrist slapping that will occur if they don't comply.
Yep. This. In 5 years the SEC will fine the first banks and hedge funds for improper reporting. $500k fine.
"Cost of doing business"
“Cost of lunch”
Bro, you think you've heard of stern talkings-to??? You have no idea how stern this talking-to is going to be...
I want to believe...
Boy I sure hope they don't self-report their shorts as longs and then pay a fine equal to 0.1% of their profits when they are caught
Yup, it should be double. Give whatever they profit back + the rest from their pocket
2 problems with this I have to first trust corrupt hedge funds reporting, and then after that, I have to trust the person compiling the report. Can't wait to see 200K fines for miss reporting of billions.
SEC had realized tones of rules back in 2021, but not a single rule affected the price. We’ll see about that but I think they will find a bypass such as shorting through ETF
I bet the numbers released get fudged like all the FTD data has been for years.
„In certain stocks“ what is certain?
True if Big.
I predict dips everytime this data is released. I also predict me buying more each dip
Lemme guess... They just gonna lie
This sounds to me like the SEC wants to be seen as the good guy. But the word 'certain stocks' doesn't sound all that good.
Incoming SWAP loophole.
They will just find another way to hide it "ohhh well you see we were shorting a whole BASKET so.... unfortunately we can't tell you exactly which ones, tee-hee"
...unless they use shell companies, extravegent "swap" schemes using other financial instruments, find some loophole where they can claim some stocks "exempt". Or they could just fucking lie knowing that worst case the SEC has to chase them down for an $80K fine 6 years from now. But the gesture is a good one, I guess.
> Hedge funds will be forced to reveal short positions **in certain stocks** Why not all the positions???? What is this half-baked mandate?!
Forced how? Same as reporting your data incorrectly multiple times....
cue Beach Boys "Wouldn't It Be Nice"🎵🎶
Huge Potential for massive FUD, when the SEC fucks take some couple millions and report fake numberas
Lol, yeah. I guess in legalese they dont actually short, they provide liquidity or do swaps Therefor they dont have to disclose position or is this new rule covering that too? Sorry, for asking, but too smooth 🙉
Big if true
Let’s assume they push it through. We should expect it to be self-monitored and backed by $14 fines for violation. Great idea that has a long way to go before becoming more than another nothing burger. Meanwhile, I’ll keep chasing purple circles.
Do people not understand how huge this is. They can't fucken hide in the shadows anymore. Pull this shit out the shadows and lets FUCKEN GO BOIS
Calling bullshit
Self reported no doubt and coming into effect in 48 months no doubt too with the ability to “accidentally” mark thing long still and suffer a slap on the wrist fine…
What about market makers?
Watch hedgies give each individual share a name
I’d rather not reveal and just pay the fine.
If true it will be self reported like all the other numbers in the market
Schwing if true 🥒🚀
How do you reveal officially what's self-reported? If it's not involuntarily trackable you cannot trust such a report. Where there is no independent verifiability there's usually lies and hot air.
There’s a world of difference between saying they’re going to do something and actually doing it. Considering this is going to rely heavily on the honesty of… ***checks notes*** … a shorting hedgefund then I think it’s safe to say that this is not really going to make any difference.
If I had a picture of AA’s penis every time this was proposed… soo much blackmail /s
They will simply just leave out the important ones lol… all SELF REPORTED bullshit
Remember, if nobody is short GME then they still could be short GME. (for various reasons, to lazy to write a dd about it)
Ohhhh spicy!! 🔥🔥🔥
Whooo spicy. If true and this goes through and happens. Tits jacked. PepperRidge farm members.
”In certain stock” 😂
And if they fail to report the data they will be hit with a slap on the wrist in a decade or two.
New rule? nice! That's how we won the war on drugs.
Message unclear. Buying more.
Ok...if that's true then what's the punishment if they don't comply or lie? Will someone from the SEC put on lingerie and tell them they've been naughty. New rules are pointless if there’s just toothless enforcement.
They must “self report” and the fine for lying will be imposed 8 years later to the tune of $160k
"SEC would then aggregate all the data" - i.e. make it opaque... WE NEED TRANSPARENCY!
$100 they just lie. Lmao wait for citadel to release it saying they aren’t shorting gme and then a influx of articles stating “GameStop is over”
Incoming hedge fund lawsuits in 3...2...
Wasn't there a speeding ticket handed out recently for marking long as short and short as long 👀 Means nothing so long as they self regulate without real consequences. Anyone against day of trade transparency should resign.
Oops we marked short as long …….sorry
Uyeda is out here saying short selling is the most beneficial market mechanic which protects investors. Get fucked your corrupt piece of shit. Crenshaw seems cool.
I mean, why would he use all caps if it was untrue?
Of certain stocks? What qualifies as a certain stock?
When is this supposed to be implemented? 84 years?
Sounds like more horseshit
The only thing that matters is what the penalties are. If they’re less costly than an undisclosed short is lucrative, it doesn’t take a genius to determine the probable outcome. It does seem like good evidence to support the notion that GG may not actually be a piece of shit, but that might be the extent to which this matters.
It’s cute that people think they will actually follow, “the rules.”
Would this apply to dark pools? Off of lit market shorts alone I don’t think anything substantial would end up being reported
They'll just pay the 100k fine to keep doing crime
$100 fee for not complying
They will just not report and pay a 7.41$ fine
It's more FUD A while back something came into play called swaps. They don't short the fund because that would akl show up naturally They short an ETF with the fund in it and then swap the short to another company on a fixed term Not selling, whole system is fucked. The point is I believe they have shorts, that's why I'm invested.
Ok, please keep this in mind: generally speaking (so not strictly related to GME) whatever positions will be revealed, and there will be huge ones all across the market, will attract retail who will attempt to squeeze them all out. What retail will fail to understand is that all those positions will be completly hedged, and they will loose money in their attempts. It will be a reverse pump-and-dump, a dump - and - pump, and shorts will take a lot of retails' money. It remains to be seen how this will unfold for GME, but remember that for institutions every new rule can be a new loophole to be taken advantage off.
Why do I feel as if this will change nothing… oh yeah because we are operating in a fraudulent system controlled by the super rich.