Racket News

Share this post

Let the Apes Have Wall Street

www.racket.news

Let the Apes Have Wall Street

The much-publicized war over "meme stocks" drags a longstanding Wall Street ripoff out of the shadows, to hilarious results

Matt Taibbi
Jun 10, 2021
408
550
Share this post

Let the Apes Have Wall Street

www.racket.news

On CNBC’s Fast Money last week, anchor Melissa Lee appeared to mention the unmentionable. She was talking with Tim Seymour, CEO of Seymour Asset Management, who made offhand mention of the hedge funds shorting now-infamous stocks like AMC and GameStop. “Look, there are a lot of short sellers out there who have been borrowing stock they didn’t have,” Seymour said.

“Naked shorts, yeah,” said Lee.

You could almost hear a reverse record-scratch over the airwaves. Did a CNBC anchor really say that out loud?

Keep reading with a 7-day free trial

Subscribe to Racket News to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2023 Matt Taibbi
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing