972 Comments

Take note, those on the left. Your small businesses could be burning all summer long and the "leaders" didn't care. But the minute the small guy fucks with Wall Street, they are immediately un-personed.

Winning the election wasn't the big victory you thought it was.

The time is ripe for another OWS/Tea Party movement against the banks.

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*"those on the BOTTOM", there is no right or left among the financial elite.

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You're exactly right, and this story illustrates it perfectly.

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True that.

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At this point we're basically on the same side, huh?

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founding

We ought to be, but there's a huge chasm separating the cultural left and right. Politicians and corporate media use social issues related to race, gender, abortion, welfare benefits, etc. etc. to keep us divided. Their new trick is to shut down alternative communication networks that might enable us to bridge the divide.

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I've been saying this very thing for the last couple of years. Trump and Sanders voters have more in common with each other than they'll ever know. As do Gabbard, AOC and some of the Ted Cruz voters. People would be well served to get past their ideas of who's on their side.

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ten billion likes

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Except for the racism.....

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founding

Review the local news interview with the black Portland cop who says that every time he tries to speak person to person to a black protestor, a white person whitesplains to them not to talk to him.

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Sorry, what exactly is the cop trying to discuss, "person to person"? "Here's why we tear gas and murder with impunity, can't we talk about that?"

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Define racism.

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See Jonathan's comment. The "racism" was (and still is) a narrative used to silence one side of the political spectrum.

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Bernie was accused of being anti-Semitic at one point if I recall correctly. Too lazy to dig up links and it doesn't matter anyway.

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Exactly. Racism, anti-semetism, and they even tried to metoo him for not micromanaging each one of his 100million volunteers.

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You might want to realize that the people falsely telling you that the left is all "woke cancel culture" are doing so to foster exactly that division that's being discussed here. While you're busy fretting about cancel culture, they're stealing all the money.

The people trying to accuse Bernie of racism are working for people well to his right. The centrists weaponize idpol against the left, so they don't have to argue with us.

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getting old and grumpy, but feeling like vaguely intelligent people should be able to see through the "cultural" smokescreen

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Hopefully, most intelligent people (aside from CNN and MSNBC anchors, or politicians, oh wait bit I'm being redundant I already said intelligent) can see the "culture war" framings of so many things are simply a ruse.

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If they are saying that msnbc, for instance, is “left”, then they are not seeing past the framing nonsense.

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Jesus, you idiots really are so desperate to be the victim, it'd be funny if you weren't also insane and violent.

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My personal problem is that i'm interested in supporting something that doesn't result in an authoritarian system of government. I do not believe anyone has that on offer at this time.

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Yeah, weird how we bothered with the Bill of Rights and the Constitution and all of that shit. Outmoded!

...clearly I was being sarcastic, but there are Wokesters out there screaming that "the Constitution is the problem!!!"

and i'm like, "there's an established legal process by which it can be amended and has been historically"

and I waste my time

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I believe that a republican system of government presumes a set of common expectations from its population/voting base. I don't think we have that anymore, and can any system survive without that? I'm not saying exactly the same thing Jefferson did, but pretty close.

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I'm sorry, which people are saying "the Constitution is the problem"?

I mean, William Lloyd Garrison did call it a pact with hell due to its support for slavery, but that was 180 years ago . . .

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Same. I'm ready to fight for Revolution but not if it's doomed from the start with shitty leadership and by being peppered with catastrophic non-starters like any of the wokeshit and violent tactics.

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founding

You're not wrong, yet there's no denying it's been effective since the beginning of time and still is.

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I believe Jimmy Dore is taking this on. Check out his latest videos.

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Yep, divide and rule.

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We've basically ALWAYS been on the same side. We just have different solutions to the problems that we both see.

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that's a bingo

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I like how the left divides itself here just by itself. No need for anyone to come in from the outside. Just say racism or transphobism or anti-Inuitism, or any other cultural left bullshit and you all scatter into your houses. Economic lefties, as opposed to the worthless, donor-supported cultural left, will absolutely need to talk to people they don't like. You're going to have to talk to people who say "nigger" and watch NASCAR and pro wrestling. The cultural left is going to keep going with "Ooh, there's a tweet from so-and-so from 2016 where he didn't use someone's requested pronoun." Cut these people out of your lives.

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Both sides are guilty of all your charges. Never heard of a RHINO ? Don't remember Ronny Ray-gun using class warfare ? How old are you anyway ?

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"You're going to have to talk to people who say "nigger" and watch NASCAR and pro wrestling."

You remember when Howard Dean said pretty much the equivalent of this in 2004 and got canceled?

Now he's just a DNC shill. :( Turns out one side of the bread has butter on it after all.

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With the help of the right. Once again, you can blame whichever fake "side" you wish but both are owned by the same crowd. Blaming one of these fake sides accomplishes nothing but further division.

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We always were. But if you're too busy letting your personal prejudices be leveraged and manipulated by the ruling class to figure that out, then it's never to late to become enlightened on that fact. That goes both ways, politically.

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Mate, you're assuming a whole bunch of things about me, when you've only met me on the web.

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Always were from the perspective of the wealthy.

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No one genuinely on the left thought Biden winning was a "big victory."

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You need to tell all my friends who are acting that way, then.

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Can't comment on your friends. Still, three possibilities spring to mind. 1) Liberals who conflate being "on the left" with being a "leftist." This is becoming a smaller and smaller group, though, as there are now several left voices not named Chomsky or West that can't be completely ignored in mainstream discourse. True liberals hate these people, as you should know. For them, this hate is as definitional as is seeing Biden's win as a "great victory." 2) People on the right who conflate "liberal" and "leftist" out of ignorance, laziness or convenience, i.e., most likely these friends of whom you speak aren't leftists or, if they identify as such, aren't very well informed. 3) Those suffering a reflexive need to evince optimism, which is a peculiarly American disease.

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Is your comment supposed to be some kind of mind-blowing revelation? We KNOW they didn’t care. And said that those of us on the left thought winning the election was a “big victory”? It was inevitable, because trump sucked so bad, but anybody who thinks that Biden in the White House is a “big victory” obviously hasn’t been paying any attention at all. Or maybe they’ve just been paying attention to MSNBC.

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The reason Biden winning is a catastrophe is that his administration will never be held accountable for anything, just as the Obama administration wasn't. While I didn't share Trump administration politics, I knew that administration would be held accountable. (Witness Trump admin. being held accountable for things that actually were holdover Obama administration policies). There are far worse things than someone sucking as a person; it's unaccountable power. So, to all my friends who were like "Oh, I know Biden isn't great, but we HAVE to get Trump out." I said - really? Because Biden will very LITERALLY be able to do anything at all and get away with it. And, now - not even a week in we not only have massive crack downs on free speech but now there will be crack downs on anyone who dares challenge hedge fund market manipulators. And, ZERO accountability.

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"The reason Biden winning is a catastrophe is that his administration will never be held accountable for anything, just as the Obama administration wasn't."

JFC, run_dmc, please stop making me want to play Russian Roulette with 6 rounds chambered.

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Exactly. I prefer a rabidly anti-government press to a lapdog press that covers up everything they should be writing about.

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Trump will die with a hooker's tit in his mouth.

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Doesn't sound so bad. There are worse ways to go out.

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Better than with a tube up your nose in an Alzheimer’s Ward like Biden...

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His presidency has seemed more like Weekend at Bernie's and less like One Flew Over the Cuckoo's Nest, but we're only a week in.

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Randle McMurphy 4 Prez

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DNC hires a mimic who can throw his voice to make it sound like Biden's corpse is saying "malarkey!" and "listen, fat!"

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I’ve seen Bernie as a “fake fan” cutout in several sporting events!

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Who believes Biden is even actually alive at his point? Many people, clearly.

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Not his press secretary, imo....

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*this, not "his". not worth the effort to delete a shitpost, although my OCD compels me to offer a correction to a shitpost

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"A lotta people are saaaaayiiiiiin'..."

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Stop making me like him even more.

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Stormy actually had a trenchant analysis of how a SC ruling involving at will contract employees would affect the girl’s working the poles

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In my experience, hookers and strippers are expert political analysts. Sharp as tacks.

But as HST wrote: "Old whores don't do much giggling."

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Who cares who delivers the final shot to the back of the head ? Either the "good" cop or the "bad" cop were always going to be the one who pulled the trigger.

Trump wasn't ever going to save anyone from anything. He never intended to win in the first place and on top of that has never gave a warm runny shit about anyone other than his own ego.

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"not even a week in we not only have massive crack downs on free speech" What are you referring to?

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WTF?!?!?! Parler? Facebook, Youtube/Google, and Twitter turning into the Ministry of Truth?

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Trump was at least entertaining on occasion. That's the only positive thing I can say about either of them.

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«those on the left. Your small businesses could be burning all summer long and the "leaders" didn't care. But the minute the small guy fucks with Wall Street, they are immediately un-personed.»

The "left" your refer to is the financialist/globalist neoliberal faction of the right, which happen to support identity politics in the name of property rights and free markets.

As a side note: "un-personed", "cancel culture", "deplatforming" are all novel and cool sounding euphemisms to actually mean "blacklisted".

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That’s why the streets are full of actual combat troops.

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Those guardsmen are not really combat troops. Also, their officers are afraid of ordering them to fire. Did time in Iraq and 20y working the Army, had this discussion repeatedly with officers, they have no idea what soldiers might do if ordered to fire on civilians and are not interested in finding out. The word "frag" comes to mind.

Another secret: they (99% of the time) don't even have any ammo. Protip.

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hahaha photos of NG in DC clearly show them WITHOUT MAGAZINES

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Even if they had mags, you can almost guarantee they have nothing in them. A full combat load is 7 mags, usually in clip-on pockets that go into the molle loops of their body armor. The soldiers are responsible for loading them up themselves under normal circumstances and can choose how much tracer and how much ball ammo they want in each mag. But no officer or NCO is going to want guardsmen on police duty carrying live ammo. Think Kent State.

I used to drive onto base after 9/11 with a tripod mounted M240 pointed at my hood at the checkpoint. This was scary until I noticed the lack of a belt.

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You remember the rhetoric "Weapons of war have no place on our streets?"

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That all went out the window when the Bush Administration called them "first responders" and gave them funding and access to all the tactical gear they could handle. Dumbest move ever, but what did we expect from that tard. That I sadly voted for twice.

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Yep have to stop that unarmed insurrection.

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Yes. But do it this way. Mess with their plunder/feast legally. Bunch of people in tents, snapping their fingers, is just a photo op for celebrities.

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Psst - this IS the next OWS - and it's hurting TPTB a lot more than just squatting in tents in the street.

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But both the inaction for the peasants and the action for the Hedgers were I*N*T*E*R*S*E*C*T*I*O*N*A*L, bruh.

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Another?

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The original Tea Party was an anti-bailout movement and spearheaded by Ron Paul. It was eventually taken over and lost its credibility as a result.

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Exactly. The original TP was anti-bailout, but the focus got coopted quickly, IIRC. I remember being really surprised to hear from people claiming to be TP proponents, but the clap they were selling had nothing to do with the legit criticisms of the consequence free bailouts that had occurred.

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I'm going to weigh in as a participant in the very nascent days of the Tea Party. #1) nobody even talked about the Koch Bros or really knew who they were #2) I guarantee you that the vast majority of participants/protesters were Ron Paul types (he was a big thing in 2008) #3) The TP was co-opted by I don't know who but most of us early participants dropped out after seeing that the TP somehow became something it was not.

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https://www.youtube.com/watch?v=IYRLqwPQQuo

Here's the rally in Austin, Dec 17 2007. There are plenty of videos from all over from the same timeframe.

Jim keeps talking about organizations formed in 2009. That's the takeover we were talking about.

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Jane Mayer’s Dark Money

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Great book.

Scary, though.

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I'm going to be honest here and say I was one of the people calling the (very loud) Paul supporters "paultards" back in the day. I'm sorry, and he was largely right.

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What exactly is your point? Early honest and naïve Tea Partiers may have been dupes for the Koch Bros or something like that? So what? Please elaborate.

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Check it out pls

https://time.com/secret-origins-of-the-tea-party/

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oh brother. Who said the right only promulgated conspiracy theories. Believe what you want.

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Just read it.

Then digest The Powell Memo.

No conspiracies, just the ruling class ruling.

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Thank you for pointing this out. The TO started out as a libertarian fiscal sanity movement and got him jacked by ultra-MAGA, pre-QAnon wingnut types in many locales. The msm refuses to acknowledge this truth, b/c it’s a lot harder to shill for the utility of corporate bailouts with a straight face than it is to Michael wack jobs in weird hats who sometimes say stuff that is kinda racist.

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The Kochs took over the Libertarian Party in 1980.

David Koch was the party’s VP.

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I campaigned for him in Montana, dumb kid that I was.

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Mock, not Michael!

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I figured this was new slang for when someone gets Michael Corleone'ed.

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Micheal is fine

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It was funded and organized, tip to tail, by the Koch brothers’ PR firm, Americans for Prosperity.

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I was literally at the one of the first ones. It was a bunch of Ron Paulers hanging out in a tea house in downtown Portland. This is well documented by the actual people who were there.

The astroturfing came after Obama won.

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Sorry, it was conducted by the Kochs, from the first note, sang by Santelli.

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lol k

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You are just full of shit. I was there. I bet you weren't. Or were you?

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I like how you argue definitions so you can do abso-fucking-lutely nothing.

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Well perhaps my personal experience doesn't count but I was there at the beginning of the Tea Party (in California). And for good measure, I was also at the beginnings of OWS in Zuccotti Park. (I know, but I really was at both in the beginning days.) I will acknowledge that Rick Santelli did sort of kick of the Tea Party with his CNBC rant but the early Tea Party attendees (and there were many) were mostly Ron Paul Libertarian types who were anti-bailout, anti-Fed manipulation, and anti-TBTF. (And fyi, at the NYC OWS, it was mostly the same actors in the beginning.) There were very, very few right-wing Republicans at the Tea Party demonstration I attended and this was in Orange County, which if the right-wing was onboard with the Tea Party, they would have been there. Pretty much all of the rhetoric and signs were directed at the govt bailouts of the big banks. Both OWS and the Tea Party were quickly co-opted by the status quo; the Tea Party more obviously because the media love to play that up.

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At this point you are trolling and not having an honest conversation. I am muting.

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https://www.youtube.com/watch?v=X000Dxmr9ws

Watch the people who were there. Look around the crowd.

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Thanks for posting that video. The good old days of Paul lobbying for 'audit the fed'. Good times.

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You're watching the actual tea party rallies.

If Yasha's piece doesn't talk about them, then Yasha's piece doesn't cover the founding of the Tea Party movement.

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January 27th and 28th, 2021 saw the Washington Post at last totally divorce itself from what used to be called “the news”. I have the Post delivered to my door every day. On the morning of January 27, I eagerly opened my copy to see what the Post had reported on one of the biggest if not the biggest news stories of the week, the revolt of the small retail investor against the hedge fund giants. To wit the meteoric rise of shares in GameStop which cost several hedge funds who had shorted the stock billions of dollars. A rare, rare victory of the small guy against the titans of the financial world. I couldn’t find a single mention of the story in the paper! Not on the front page and even not in the “business” section. I assumed I had missed the story and went back through the paper page by page. Nope, it wasn’t there. Not one word! In the real world of journalism this would have led to the firing of the editor. But we work under different rules now.

I can imagine the editors not knowing how to play this news. Yes, they could have simply stated the plain facts; the stock moved how much, and hedge funds lost so much, but they didn’t. News is about so much more than facts these days. The dilemma was this; clearly it was at least a symbolic victory for the small guy and a demonstration of a fearsome new power in the financial world and the Post staff and management saw themselves as champions of the little guy. On the other hand, it was a near mortal blow to some of the captains of the industry who have now become (at least for public consumption) friends of the Democratic party and fierce enemies of the guy who used to be president. (Don’t blame me for bringing him into the story, the Post did that on their own) And besides the Post is a business that has had its ups and downs in recent years, and it doesn’t pay to make enemies of these guys, not to mention the owner of the Post, Jeff Bezos is one of the world’s richest men and has much more in common, if not outright friendship with said titans. So the Post decided to punt and skip the story altogether. Perhaps it took them a day to consult with Mr. Bezos and others in the industry and in the world of politics to see how to spin the story. Oh, how I would like to be a fly on the wall of the editor’s office! I am sure there was some real debate going on! I am sure the Post’s woke staff had plenty to say about this story.

Move to Thursday the 28th. The story framing is complete, and it comes down on the side of the elites. Now it’s a front-page story. In a very long two-page article the Post plays the role of the hedge fund toady and defender. The small investor is now “a flash mob with money”. And we know what sinister connotations the word “mob” has taken on in the past few weeks. As crazy as it seems the article doesn’t mention the role of short sellers (who smell bad) until the twentieth paragraph on an inside page and doesn’t mention the specific hedge fund until the twenty-ninth paragraph when this information was all over the news. Unbelievable! The Post preferred to call the hedge funds “big Wall Street firms, “wealthy institutions”, and “big institutions”.

By late Thursday the political/financial industry dealt the small investor a savage blow in a naked show of force. Halting the purchase of GameStop shares but not their sale meant the market could go only one way, down, saving hedge funds from losing billions more if not saving some from total destruction. If this isn’t the definition of market manipulation, the word has no meaning. It will be interesting to see how the liberal mainstream media plays this story in coming days. They can’t support both sides. At least we know where the Post stands. The story is not over.

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author

Wow, did they really not have a GameStop story on the 27th?

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This made me curious and the other commenters on this thread seemed to accept Robert's accusation that Washington Post wasn't adequately covering the gamestop story early on. A quick google search turns up two substantial stories. One on the 25th another on the 27th. I just wanted to link them here for posterity: https://www.washingtonpost.com/business/2021/01/25/gamestop-stock-short-squeeze/

https://www.washingtonpost.com/business/2021/01/27/gamestop-amc-reddit-short-sellers-wallstreetbets/

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The Washington Post has been highly biased for quite some time. They published probably 2000 stories and opinion pieces on the "Russia collusion" thing, all of which were wrong. They covered many topics very poorly. Their opinion writers (and cartoonists) are heavily biased toward the Democrats, and they have made no effort to correct this.

For example, Salena Zito wrote the best articles about the 2016 Presidential Campaign for The Atlantic after taking a buyout from the Pittsburgh Tribune Review that summer. She could have been hired by the Washington Post, but instead is with the New York Post. Here is her article that is the most quoted of all articles in 2016: https://www.theatlantic.com/politics/archive/2016/09/trump-makes-his-case-in-pittsburgh/501335/

Likewise, Michael Ramirez, the best American political cartoonist, moved to the Las Vegas Review-Journal in 2018. The cartoonists at the Post are very poor, and Ramirez would have been a great improvement.

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Who would want to work for Jeff Bezos? i know people from my employer that have gone over to AMZN and ultimately came back because of the terrible climate there.

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Amazon, as a company, can be summed up by reference to their response to a bad situation in one of their fulfillment centers (in Ohio, I believe). Turns out it was, in addition to being non-air conditioned, poorly ventilated. To the point that employees were passing out during their work hours. The response? Put a rental ambulance at the front door. This was either a sign that they really cared about the employees or an attempt to ensure that lawsuits over the working conditions did not have a newsworthy and possibly expensive FATALITY in them.

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NOTE: The huge warehousing structure had previously been used for storage and distribution of forklift-accessed, pallet-based quantities of product, as opposed to the Amazon model of thousands of desperate people grabbing individual items and tossing them into shopping carts. Thus, heat stroke in one operation that was not a concern in the previous ones.

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"Halting the purchase of GameStop shares but not their sale meant the market could go only one way, down, saving hedge funds from losing billions more if not saving some from total destruction. "

Not true. What the move did was cut off buying from retail investors, not the big guys. The price was down as much as 65% today, but closed down 44% and now after hours is UP 61% HIGHER THAN THE OPEN.

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Great news. How could the government legally cut off one and not the other?

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There are many ways, for example there are different rules for "qualified" (rich) investors and for retail investors, or for members of exchanges and the public.

Note also that it is impossible though to stop the "purchase of GameStop shares but not their sale", because every sale implies someone is purchasing.

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It wasn't the government, it was Citadel-connected Robin Hood "protecting" its customers from, in a very small blow against the Empire, slowing the transfer of wealth to the top 00.1%ers.

In other "official" news, wealth inequality is because of "systemic racism".

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founding

Robert I came to this conclusion in 2015 but welcome to the party

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To me it's still less bizarre that we've been living in an age now where we can have multiple wars still going on and not have daily front page coverage of it. Seems like it would be unthinkable 80 years ago to think we've reached this point.

I guess we'll get used to Postwashing the breakdown of the economy and government pretty soon.

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*less bizarre than that

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This might be the moment when 90% of the population realizes 10% of the population is purposely crushing them while keeping them occupied with race and lockdowns and focused on who is wearing a D or R on their jersey. Cmon , forget the “team” you think you’re on and wake up and understand Politicians , MSM , and the elite financial class want to Hoover up all your money and then stub you out like a cigarette and have a good chuckle when they’re done.

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There are people defending Pelosi's purchase of Tesla stock. That's how dumbed down and genuinely stupid some of our fellow Americans are. Or if you want to be more charitable, that's how deep the manipulation of the American mind has gone..... people defending bought government because it's 'their team' doing it.

The brainwashing is breathtaking to see.

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This is a clear conflict of interest, as the House will be taking up lots of legislation that would send money to Tesla, directly or indirectly. Electric cars, solar, batteries, ...

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Musk got his start with a gubmint grant.....

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That said, attacking that machine is suicidal. So many people's livelihood and future depend on it that they'll support any atrocity to avoid not being able to fund junior's college.

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Thank you. This is a shorter version of what I wrote on Greenwald's blog on the same topic.

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It's been interesting watching Democrats (except for AOC - I actually agree with her on something, partially) line up to demand "something be done" about all these day traders, and Republicans defend the day traders. Methinks we may be in the midst of a political realignment in this country like we've not seen since FDR ...

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Not sure what to think about her slapping away the hand of bipartisanship from Ted Cruz on this issue. Would rather not turn this into another left-right thing, since it seems to be one of the few issues the common people agree on. (Not that I have any particular love for Ted Cruz, but still.)

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She's (histrionically) accused him of trying to have her killed. In doing so she's painted herself into the corner. That hissy fit combined with an inability to admit when you're actually wrong (as opposed to apologizing for the approved mistake narrative) and AOC has made her own bed here.

This is all theoretical anyhow. She's not going to do what it takes to get anything done if it means risking her position at this point, and Finance are some of the most powerful enemies to have. She's not going to risk them astroturfing her brand as hard as they do with Bernie. I think Greenwald said it took about 6 months before AOC shifted from Class to IdPol and rendered herself completely worthless.

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Which makes her well suited for Congress

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Intentional or not, I'll give you the credit due to using a synonymous term for "useful idiot."

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She can't break kayfabe. Gotta keep the fake left/right split fiction going.

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Always slap the hand of the guy who relishes stabbing you in the back (while smiling, if you can call that vile smirk a smile).

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I've been told that "progressives" don't want help from "fascists." They hate it when there's common ground.

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No self help for progressives.

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Everybody hates a NazBol. Ask Limonov. oh wait he dead

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Apparently she holds a grudge. Anyway, no on like Cruz.

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"no onE". Sheesh. Edit function, please.

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I'd hold a grudge too if someone egged on a crowd that wanted me dead. Kind of puts a chill in the air.....

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Fantasy land...

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With you on AOC. I had pegged her as a phony, but she's stepping up to the plate here.

I do not know the details (and never will), but I speculate that many of the day-traders are on the internet trading all day because decent jobs have largely vanished from the American landscape. I speculate further that many of these people are nostalgic for the time when they worked at GameStop for minimum wage.

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AOC is definitely not a phony, she sees the future (ie, the politics of young people) as clearly as any of us and is gonna ride it all the way to the top.

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First Woman President, unless she's too late. Which is not to say she isn't a phony.

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You mean phony she doesn't believe what she says? She is one of the most articulate people I've ever heard, it's hard to believe she's not speaking honestly. I dunno, you could be right and at the end of the day it doesn't matter as long as she stays the course AFAIC. I can be really naive, but I'm also really sensitive and cynicism to that degree is hard to live with.

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"She is one of the most articulate people I've ever heard, it's hard to believe she's not speaking honestly."

I gently request you to reconsider this assumption.

"Articulate" isn't "honest" any more than "beauty" is "virtue."

I've watched AOC make her career by blurring these lines; always for the camera.

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Thank you Grisha, I do know that (said without snark). Having trouble saying what I mean... I think I mean - I don't follow her closely. Virtually everything I hear her say sounds smart (if not no-brainer) and exactly right to me. Same with Matt, for example, that's why I love him. In both cases I have trouble believing that dishonesty is the underlying foundation of what they are saying. And, in the immortal words of Warren Beatty, "There's nothing to say off-camera. Why would you say something if it's off-camera? What point is there existing?" ;)

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Bullshit on the "most articulate" bit. You need to expand your network.

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AOC is not a deep thinker. It doesn't mean she's wrong on everything, but relying on her intellect would be a mistake.

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As in the votes don't match the rhetoric.

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That's fair. I know nothing about her voting record, but I also try to be a realist and not hold the Bernies and AOCs of the world to a standard of purity that prevents them from engaging in politics (ie horsetrading, picking battles) and gaining power over the long term. But again, I'm basically talking out of my ass here.

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OK, but the guy that started it is named Keith Gill, a former registered rep and general securities principal at a FINRA member firm, and prior to that worked at a small investment adviser. The only person I know that was talking to me about this trade in December is a retired (in his 40s) KCG trader that is a member of Winged Foot. Just, you know, something to consider.

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Yes, I never thought I would see AOC and Ted Cruz on the same, correct, side of a few manically issue.

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It's funny but also neither of them will do jack or shit at the end of the day.

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Truth!

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I think Cruz and AOC have both perfected an act that plays well with their constituents. The Capitol is Warner Bros. Studios at this point.

"How dare the filthy extras overrun our *sacred* Warner Bros. Studios?!"

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RomCom where Cruz and AOC realize they have more in common than they thought when they run into each other at the store where they both buy their fainting couches.

Cut to the floor of congress later on when they're sending each other clips of overdramatic soccer flops that they admire.

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I don't think this is anything new. Politicians have been getting re-elected by maintaining the status quo for as long as history has been written. Fricking Pericles would be nodding emphatically if he were here.

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It will be a trend

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I doubt it, seeing as how AOC accused Cruz of trying to have her killed in the Capitol riot when she was informed of his agreement with her on the RH issue.

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Huh? Dems haven’t shown themselves to be free marketeers of late

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True, but they've still claimed the moral high ground in terms of supposedly defending the interests of the "little people." On this issue, however, they've stopped even pretending that they're interested in what the rest of us think - the Democrats are now officially the part of Wall Street, Silicon Valley and the country club set.

It will be interesting to see how long AOC, Bernie, etc., stay in the party before trying something new. Warren, bless her greedy little soul, absolutely sold out today, demanding the SEC "do something" about all these day traders.

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Yep. I say it all the time. Main Street Democrats don't yet realize they are the party of Wall Street, endless war, Big Media, "lockdown" corporations like Walmart and Amazon, and the literal formation of the Ministry of Truth.

But they are going to find out.

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Great observation. Let's see; more lockdowns after the vaccine, wear 7 masks at a time, use big tech to de-platform everyone we disagree with, use big finance to lock out the same people, possibly send our political opponents to reeducation camps. But at least we voted out the "fascist"!

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You’re a little out in orbit.

Wave to us as you pass over our relocation camp.

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My overall point is that a segment of the left LARPs opposing fascism while being in favor of massive censorship, corporate power, and zero checks on government power (when they are in charge). I don't actually think reeducation camps are on the horizon. I only threw it in there because it was mentioned by that PBS lawyer and a few Bernie staffers.

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I sometimes wonder if Trump got in the way of that understanding. Maybe MT is right- with DTrump gone, the air clears, Dems realize they have been mind-fucking themselves and the real fight can then be waged. Guess we'll see.

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I was inspired in 1960 by JFK to become a liberal Democrat. I was inspired in 2009 by Nancy Pelosi to become a liberal independent. I had finally realized that the Democratic Party was authoritarian in nature. Just how authoritarian wasn't clear until GameStop. The mask is off. The alliance between Wall Street, Big Tech, the mainstream media and the Democratic Party wants control and has now successfully overthrown the government.

The government is we, the people. We don't matter any more. It's not even necessary to pretend to hold political campaigns and elections, although I expect they'll go on for quite a while yet. The outcome is foreordained. More power and money for the Nomenklatura of the Authoritarians, less power and money for the plebs of the Libertarians. Something akin to rational debate will be allowed for a short while, but the game is over.

Left-right, Red-Blue, R-D, it's an illusion. The Authoritarians have been running an asset-stripping vulture game on the US for about thirty years now. The common people are left holding the bag. We allowed it to happen.

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Well put. The key is the media and its corruption. If you can keep the people mesmerized, distracted and generally fed a steady line of bullshit, then you can control any narrative. Trump- for all his flaws- threatened that control. With him gone, the push is on to consolidate and prevent any further threats. Your point that they will give it some time still allowing simulated elections and rational debates is spot on. Eventually, those will be total frauds as well.

Matt T's single flaw in his thinking is that he wanted Trump gone- almost at any cost. Not unlike the wokest resister. By his thinking he will now be able to fight the fight he wants to engage in. But I think he will be ultimately disappointed as he is increasingly marginalized. Only too late will he realize Trump may well have been his only hope.

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What a sad state of affairs when the only hope for a left-wing journalist is a right-wing narcissist.

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Yep. The real battle is authoritarians vs. libertarians. Probably always has been.

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That is so.

But the Republican Party is run by malevolent sociopaths, who fuel and rely on hate and cruelty to get and maintain power.

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Yeah, that's why I don't vote for them.

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On balance, I figure the Dems will kill fewer of us, and not be quite so greedy, but I could be wrong.

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The Dems claim a lot of moral high ground that they don't own. As for the progressives, they're long-game strategy is winning. Why would they change?

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Their long-game strategy is winning in the short-term. But look at how Congress and the new administration are behaving - not like confident adults who believe the future is theirs. They are panicking, as if they realize that once Heartland moderates realize the Democratic Party is in thrall to coastal elites, the re-alignment we saw in Congressional races in November is only going to accelerate.

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Re-alignment to what? It's not like the Republicans have any credibility as the party of the little guy, either.

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What panic, I ask?

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lol ... the flurry of executive orders, the commission to justify packing the Court, now the blowback against the day traders. These are the actions of people who believe they are on a short clock and have a rapidly closing window in which to act before they lose power.

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There is no free market - that is exactly what this incident and the response illustrates.

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How old are you?

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Republicans jumping on the populism train as Democrats covering their faces.

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I also agreed with AOC on this, too, then I recalled her braying for a vote on M4A, then pulling back on this and voting Pelosi in for another term as speaker. I get dizzy from all of AOC's antics. It's like AOC serves her purpose for the Democratic elites by rebelling just enough, then coming back inside for family dinner time. What will she do when the Dems act on behalf of their Wall Street masters and vote on new regulations restricting the unwashed from spoiling the party? I guess she'll be allowed a dissenting vote, unless it's a close one, then Nancy will pull on that leash again...

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Her district is so safe, she actually could realistically defy her party's leadership without repercussion. If she's serious about wanting to be a power broker, she'll create an alliance with libertarian-leaning Republicans to block any expansion of the surveillance state as well as blocking any attempts to criminalize the squeezing of the short-sellers like we saw last week.

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What's incredible is that the media - and popular focus as result - hone in on "manipulation" by the /r/Wallstreetbets forum, and decry that, interspersed with moralizing about ordinary people gambling not knowing what they are doing.

What is more galling - should be more galling - is this: Gamespot is just part of the story. This morning (January 28, 2021) several retail brokers blocked the Buy button on a number of stocks with high short interest: this included BB, AMC and others. During this blackout of these stocks (for purchase and not for selling, you could still sell), hedge funds were able to unwind their short positions.

It's being said that Citadel, which bailed out Melvin Capital (the GME loser), owns a stake in Robinhood and also works with TDA and Schwab.

So the story here is that hedge funds called up their business partners in the retail brokerages and said, don't let people buy this for a period of time. So they could protect themselves, at the expense of retail. CNBC dutifully reminds us that retail are imbeciles, and CNN mentioned that the subreddit has white supremacists on it.

It's a mad world, but through all of this insanity there's a breadcrumb that should be followed.

Here's the question for Taibbi and whoever reads this: should we expect the general public to further lose faith in Wall St., the media and government (the SEC) after this?

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"should we expect the general public to further lose faith in Wall St., the media and government (the SEC) after this?"

How do you fall below the floor of the basement? Is there a sub-basement? A coal chute?

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Strange we don't see the House Speaker demand we investigate THIS. No, we need to investigate ordinary Americans who finally got sick and tired of being taken advantage of.

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"So the story here is that hedge funds called up their business partners in the retail brokerages and said, don't let people buy this for a period of time."

hahaha. "Free Market," my Byelorussian ass.

[appears as Boris Badenov, drops trou, moons all and sundry]

"In Capitalist Russia, you buy stock. In Soviet America, stock sells YOU!"

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I thought that was Yakov Smirnoff's bit.

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I stole it! I just think Badenov has a better iconic appearance as a villainous Russ... I mean, Pottsylvanian.

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Behind the scene, pulling all the strings on the hedge fund side, was, of course, that avatar of moral authority and financial responsibility, Steve Cohen (of SAC notoriety).

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For those unfamiliar with Big Stevie (who just bought the frickin Mets 😳):

“In 2013, the Cohen-founded S.A.C. Capital Advisors pleaded guilty to insider trading and agreed to pay $1.8 billion in fines ($900 million in forfeiture and $900 million in fines) in one of the biggest criminal cases against a hedge fund. Cohen was prohibited from managing outside money for two years as part of the settlement reached in the civil case over his accountability for the scandal. The hedge fund agreed to plead guilty to wire fraud and four counts of securities fraud and to close to outside investors.”

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Money

It's a gas

Grab that cash with both hands and make a stash

New car, caviar, four star daydream

Think I'll buy me a football team

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What faith?

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Lost that faith long ago.....

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"Further"?

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«During this blackout of these stocks (for purchase and not for selling, you could still sell)»

Every sale implies a purchase. What has happened is rather different: that different types of market participants have been given different rules. Also the redditors have not been buying GME stock, they have been buying call options. The technicalities matter a fair bit.

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The real story isn't who makes money or whether the hedgies took a mortal blow (they didn't), but rather what this incident exposes. It shows the corporate media as the sleazy little satraps to money they are. It shows the Wall Streeters exposed as bullshit artists, as they hilariously try to justify their position in society. But most of all, the joy being experienced by millions of Americans right now shows just how powerful the anti-neoliberal movement really is. Or at least could be, if it was harnessed properly. People know they're being screwed, and the reactions to this story show they know who is screwing them.

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True colors are appearing everywhere. Twitter and Facebook used free speech and assembly as a ruse to control the commons. Robinhood and the other discount brokers lured retail traders with the promise of being able to trade like the bog boys and ignited a blow off top on top of a blow off top.

As soon as their true purpose was fulfilled their total mendacity is exposed. Free speech, free markets, and circuit breakers for me but not for thee. The users of these systems are not customers, they’re lambs to the slaughter, and all roads eventually lead back to the real customers.

All of this is out in the open now and they can no longer hide it. Now that the schadenfreude around the election is starting to fade and the new authoritarians realize that they are the real targets there is a real chance that these lying, fake companies will get the reckoning they deserve.

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I love optimism. It keeps one going until one is finally in the grave.

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Lol I’m gonna get that tattoo’d on my ass

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