Nasdaq CEO Suggests Halt to Allow Investors to ‘Recalibrate’ to Combat Reddit

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51 points·caseysoftware··10 comments

^ Note that this was actually published yesterday (Wednesday) afternoon so the intent was there long in advance of the "outages" this morning.

It's also why "collusion" between brokers will be a challenge because you don't need collusion if everyone knows the exchange itself supports the idea. Then it's just a matter of timing which doesn't have to be perfect.

Lots of people are going to take this as a blow against small investors. Janet Yellen's taken $7 million in speaking fees from Melvin's largest backer.

It's okay, Biden's press secretary assured us that this was perfectly legit and that Ms. Yellen had earned the money.

I didn't see any CNN fact checkers or "lie counters" weighing in on it, so we should be fine.

How would one fact check this?

It is true that it is not illegal to accept speaking fees.

You could write a think piece about why the practice is shady or creates bad incentives, but it's not a fact check situation like we have had so many times in the recent past.

Fact checking is only fashionable when there's a Republican in office.

The perils of direct democracy and individuals making decisions.

We need an elite group of ultra wealthy individuals and politicians to protect us from ourselves.

> “I think that, in general, when we evaluate how we would manage through a situation where you see a significant run-up in a stock not based on news, not based on fundamentals"

'Fundamentals' is certainly a euphemism.

Will they also stop trading when stop losses get swept by hedges and other large traders? So the retail traders can, you know, recalibrate.

Yeah because just that CEO suggesting this isn't itself market manipulation.

Recalibrate = develop bots that analyze WSB

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