Quote:
Originally Posted by TorqueDog
Wapner is being disingenuous. People lose money in the stock market on a constant basis, he knows this. The reason it matters this time is because it isn’t the people that are supposed to be losing it, it’s the hedge funds that have been using the stock market as their personal ATMs. The financial crash of 2008 showed that there are no consequences to Wall Street and they will simply get bailed out by the taxpayers. The regulation put in later about the ‘pattern day trader’ rule to “protect” retail traders only made it harder for smaller retail traders to participate in an open market.
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Yeah and I guess I partially agree. But the other part of me sees that some people are (at least allegedly) piling their life savings into these things. That’s at least questionable if not entirely ill-advised. I have zero issue with the hedge funds getting wrecked here because they do that to people all the time, and frankly they know better. They could have covered much earlier and moved on. The thing is, I’m not entirely convinced that everyone else piling in at the encouragement of anonymous online posters really realizes the risks and knows what they’re getting into. What can I say...I’m soft and don’t like seeing those people get smoked, and that’s what I fear is coming here.