You obviously heard of what Robinhood did today in regard to stopping/mitigating mass losses to their billionaire buddies.
What the banks did back in 08', to cover their own asses, was to delay Standard & Poor's ratings on the housing market, among other nefarious ways. They did this to buy up the same exact bonds they created for the few people who had bought the shorts on the housing market.
They sold these bonds thinking these buyers were crazy.
Until the housing market did start collapsing.
They were forced to manipulate the market to get their skin in the game.
The Michael Burray scene from The Big Short is Iconic!
All of a sudden, the ratings are changed, banks have collapsed, there is blood in the streets, and now the banks are willing to pay out on their bonds.....after they've already made a position in the market, to cover their asses.
Fast forward 13 years, and a trading company, which is entangled with many big $ firms, freezes people's buying capabilities when their big $ firms are on the hook for tremendous losses.
The BIG guys got greedy, and leveraged themselves to epic proportions.
This could never go bad!
The little guy should have won here.
But yet, again, the BIG guys got their way.
This is worse because there was nothing behind the scenes here. The writing is literally on the wall, regardless of how nicely it's written.
I can at least fortunately say, that maybe, just maybe, there will some minor justice in this case. I'd hope for major justice....but I wouldn't hold my breath.
"The man who sees the future, will be dismayed at it, when the PTB don't allow it to happen."