Strong doubt, and I'm VERY surprised so many chapos are just gobbling this up. I'm not sure how much exposure Goldman will have to these funds when their margin calls fuck them to death, but they're almost certainly just hyping up the risk to pressure the government into crushing the GME hold to get back to business as usual. This is barely a blip on the rest of the financial industry's radar outside of shorts, and it certainly won't create the market-crashing waves people are hoping for.
Obligatory I'm not a WSB cunt and I hope that the market dies itself to death.
Yeah this is definitely just fear mongering. The hedge fund that went under did so with like a $10 billion loss or something, just seems like way too small or a fish for the ripples to cripple the financial system. I more find it funny that on the off chance that this does happen it's, yet again, the irresponsibility of having these risky financial instruments.
Yeah man it's insane isn't it, and they keep on making more of them while wanking off over their genius. Banks creating debt by borrowing from future economic growth was an absolute death sentence for the global economy but they all just keep on patting themselves on the back at how smart it all is, and will be patting away right up until it all implodes
Counterparty risk (leverage that blew up on them) caused 2008, so it’s not an unreasonable take. We actually came close to it on Wednesday; hence clearing firms putting in place requirements that forced a number of brokerages to freeze purchases.
Had that happened, it would probably cause a very brief but severe flash crash, until whatever entity collapsed got bailed out the next day
The scale of counterparty risk within the dogshit CDOs combined with the sheer volume of them in 2008 is orders of magnitude larger than this though. A flash crash wouldn't come close to bringing about the change prophesied by the people claiming it's all coming down
Right; that’s why I’m saying it would be a flash crash, it would cause temporary panic, but then there’d be a bailout and it would bounce back, unlike the systemic unraveling of 2008
I was responding mainly to the part in your first comment about it not being an unreasonable take and I misinterpreted, I didn't realise you were talking about what Goldman said. Sorry, I must have jumped to it cos my tolerance for bad takes on the GME stuff is wearing super thin - I'm in a group chat containing some right wing fuckheads and call options and market crashes are their new favourite things to talk absolute bollocks about, so this week has been non-stop cringe and wanting to scream
Believe me when I say I need that money too, but its a small price to pay if this does actually crash the market in a big way. 2k is two to three months of security as long as literally nothing bad happens. Then I'm right back to square one.
Fuck them. Fuck the market. Bail out the banks AGAIN motherfuckers :sicko-yes:
Don't need stimulus checks if money is worthless. Just need to be within walking distance of a grocery store and have a, huh, group of friends
You'll get 1400 dollars, but by that time they would be worth less than paper out of which they were made.
This is the unfortunate conclusion of money printer going brrr and giving it all to the financial sector and big businesses instead of giving it to people to spend.
A total of $1400 for each individual enrolled in a Coursera coding course, allocated in micro allotments dispersed quarterly between now and 2026
Looking forward to getting laid off because my employer's profit decreases by 1.3% :agony-limitless:
I worked a company that had a round a layoffs because even though it was profitable that quarter, it was less profit than wall street expected so the stock price went down and the CEO laid off people to show the market he was "responding".
Isn't that what employers are doing when refusing to implement safety measures during a pandemic?
That's just normal capitalism. I thought more of public sacrifices on the altar of Wall Street Line Temple to appease The Market to dissuade it from crushing us.
"I want to get paid for betting that something will never happen"
[thing happens]
"this isn't fair!"
I'm just waiting on the libs blaming this on Russia (they probably already have). "DeepFuckingValue is a Russian agent!"
You mean like this?: https://twitter.com/shoe0nhead/status/1355977811081748480
whoah , "a bunch of amateur investors and russians" ...yeah this Gamestop thing a a amateur move , just lock at the stock price , fucking amateurs..
I mean......if the wsb guys respond with the inevitable screw-job they're going to receive by getting upset with """bankers""" and """globalists"""
You gotta keep in mind that these wsb guys genuinely want to participate in capitalism, and if they perceive that it is certain "types" of people who are screwing them rather than the system itself, well....it could go sideways in a hurry.
The constant ableist slurs make that an easy narrative to sell to people tbh
They're alt-right by default since they're wanna-be capitalist reactionaries for the most part. Being said I think a lot of them have zero idea of ideology and are mostly just stonks boys.
Geez I'm starting to think that if something this dumb can crash the whole market this system might be kind of stupid!
maybe, MAYBE if the entire market crashes, the billionaires should ask for 2000 dollar checks and not-actually-ever-going-to-happen rent freezes like the rest of us?
or a firing squad?
Would be funny if they froze the stock. Everyone in wsb would be seething
