Suck It, Wall Street
One thing I appreciate about Taibbi&#x27;s article is that he&#x27;s got the most important part right: this isn&#x27;t a pump-and-dump, it&#x27;s a protest.<p>The talking heads doing the pearl-clutching and the commentators around the internet keep talking about how none of this makes financial sense, the fundamentals of the company aren&#x27;t sound, it can&#x27;t last forever, someone will get hurt, and it&#x27;s obvious that zero of those people have scrolled through a single WSB thread.<p>You can&#x27;t scroll very far through any of the WSB threads without passing comments like this one:<p>&quot;Listen to me. Hedge fund dicks. 1%. And who ever the wants to read this.<p>&quot;I will sell every position I own tomorrow. Red, green... I will sell. I will use all my capital to buy gme tomorrow. Fuck you hedge funds and 1%.<p>&quot;I have been hit by every single financial and economic in the last 25 years. That’s been my adult life. You have taken every fucking thing from me. And now I will spend every single grand I have buying GME.<p>&quot;What do I have to lose? My money? Well you fuckers made damn sure over decades that I’d never be able to own a house or live the life that you’ve been able to enjoy. But blocked from us.&quot;<p>That sentiment is posted multiple times in every single major thread -- along with great helpings of jokes and memes and a party atmosphere.<p>So many people keep assuming that the retail traders in this scenario don&#x27;t know what they&#x27;re doing and they need to be protected from themselves. They know what they&#x27;re doing. Some of them have $millions riding on this and they&#x27;ve had multiple opportunities to cash out.<p>But they aren&#x27;t looking for a payday so much as an opportunity to hurt some Wall Street firms that got a bit arrogant and thought they could get away with shorting more shares of a particular company than existed on the market.<p>Folks can bash Taibbi for getting some details wrong or for writing articles without an editor, but at least he managed to get the basic shape of this whole situation right, which puts him way ahead of a lot of other folks.