What is the worst thing that is legal?
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πŸ‘€︎ u/Musuhubber
πŸ“…︎ Dec 29 2020
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15 U.S.C.A. Β§ 78i - the Illegality of Short Ladder Attacks (Legal insight)

Dear SEC and President Biden,

I am calling on you today, pursuant to 15 U.S.C.A. Β§ 78i, titled Manipulation of Security Prices, to prohibit manipulative and deceptive tactics that artificially depresses the price of GME and AMC securities in contravention of the laws of the United States.

Section 78i(a) clearly states that "It shall be unlawful for any person, directly or indirectly, by the use of the mails or any means or instrumentality of interstate commerce, or of any facility of any national securities exchange, or for any member of a national securities exchange -- (2) To effect, alone or with 1 or more other persons, a series of transactions in any security registered on a national securities exchange, any security not so registered, or in connection with any security-based swap or security-based swap agreement with respect to such security creating actual or apparent active trading in such security, or raising or depressing the price of such security, for the purpose of inducing the purchase or sale of such security by others."

Currently, GME and AMC stock prices are actively being manipulated using a mechanism called "short ladder attacks" to depress the price of these stocks in contravention of 15 U.S.C.A. Β§ 78i. "Short ladder attacks" occur when large institutions in possession of the aforementioned stocks sell them for just less than market value in rapid succession between one another in order to drive the price down. The fact that short ladder attacks exist is apparent from on-going market activity that can be seen here

https://www.reddit.com/r/wallstreetbets/comments/la682h/visual_representation_of_a_short_ladder_attack_4/

https://i.gyazo.com/d33d2d9346092b3c041c54fc394225c3.png

(Check this from the huge dip last Thursday. No volume but still an enormous dip in price)

https://preview.redd.it/nmiqx27md4e61.jpg?width=1170&format=pjpg&auto=webp&s=f3e61c081b3332670eaa8b972c309c6d56177e33 https://www.reddit.com/r/wallstreetbets/comments/l71yxn/ladder_selling_explained/

check this out

Such blatant attacks readily establishes prima facie case of market manipulation and must be investigated by the SEC immediately. Further silence from the SEC on this matter, which can be investigated quite quickly, not only encourages further market manipulation but also further diminishes public trust and faith in the U.S. Government.

Finally, section 78i(f) makes it clear that "Any person who willfully participates in any a

... keep reading on reddit ➑

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What is illegal but should be legal?
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Trying to watch a movie the legal way last night.
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What do you think will be illegal in 100 years that is perfectly legal now?
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I wish childfree apartments were legal.

It sucks living having to deal with the screaming and stomping from upstairs. It destroys our sex life knowing that we'll probably be interrupted by the sound of screaming toddler. It's a constant, ongoing irritation. It's stressful and irritating, and if you work nightshift, it's even worse. I'm childfree because I wanted to avoid this.

If I want to live somewhere without kids and someone wants to rent to people without kids, why shouldn't that be allowed? There are only so many childless people to rent to, so there will always be apartments willing to rent to parents and kids.

The only way to live in a child-free place is to move into a retirement community, which I'm not old or rich enough to do, or to move in by a bunch of pedophiles, which I also don't want to do. I just wish regular, childfree apartments could be legal.

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Someone is trying to take legal action to get my name.

Hi I've had my name on twitch for years now, I mainly use it to watch streams or stream to my friends. Yesterday i got on my phone recently and I saw I had a whisper from someone who wants me to change name because hes a "big shot" and hes coming from youtube to twitch. He Sent me a twitter handle that belongs to a new org and youtube page to verify hes "big". I really like my name and I do not want to switch it. I decided not to reply because on mobile I cant even tell when he actually sent the message. Today he sent a message saying he will take legal action if I do not change my name and let him have it. This in turn has given me anxiety since my friends says if hes big twitch can give him my name. My thought process is now I got to stream so I can show I'm active and maybe just get a little following so he cannot get my name but at the same time I'm so awkward and not very entertaining. So what I'm trying to say can he really take legal action against me to have my name?

Edit: went to sleep and woke up to a bunch of replies. I want to thank everyone for trying to help me out. I'm half awake but am still trying to read all the comments.

Update on situation he sent me a message saying I can my keep my twitch name.

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πŸ‘€︎ u/RoseAqua
πŸ“…︎ Feb 01
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Nearly shit my pants when I pulled this (top) out of my mailbox. Flip it over (bottom) and it's an ad for some law firm. How is this kind of thing even legal?
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πŸ‘€︎ u/TheLegitimantis
πŸ“…︎ Jan 19
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Important enough for its own post: Robinhood was NOT the only one that banned GME and should NOT be the only one to get legal scrutiny thrown at them! List all culprits here.

Go look at posts/comments from earlier today from dudes wondering where the hell to buy GME because their non-RH broker of choice ALSO banned purchasing GME. GME dropped over 75% from its high not because just RH did this, and we all know it.

MOST BROKERS DID THIS. MOST OF THEM.

Now - go look at the front page of Reddit, the front page of your favorite news source, and the tweets of your favorite politicians. 95% of mentions of these shenanigans mention ONLY RH.

Why's that? Hell, you KNOW why deep down, but let's spell it out.

These prominent people - politicians, celebs, rich people, etc. - who are suddenly on your side would love to see only RH bite the dust. RH already had been disrupting the industry and taking business away from the established brokers who were charging ridiculous fees from back when you had to hop on the phone and call a broker to perform trades.

The second RH goes away, and other newer ones like WeBull get similarly targeted and scrutinized, what'll happen? Return of the $8+ per trade $1 per contract BS as the norm. Fees that go down with the more money spent, because brokers loooove rich people, and hate us and want to rake as much as they can from us.

Should RH get reamed? Absolutely. Should all the other brokers that pulled these shenanigans get reamed too? You betcha. And right now, that's clearly not going to happen. I've not seen a single politician, including AOC, mention ANY broker other than RH. Hell, a congressperson drafted a fucking letter about troubling/concerning yada yada about RobinHood. Only RobinHood. Again, MOST BROKERS did this.

Frankly, ANY broker that pulled this shit should be shut the fuck down. If not by the law, by their customers getting the fuck away from their thieving asses.

So, did your broker do this to you too? List 'em here. Hell, make a separate post about them. Upvote all of them. Let's not let them get away with this. They're trying to sneak out of a war they started and present RH as the lone culprit and make you feel warm and happy about class action lawsuits that'll get you a baconator in about 5 years. Don't let them.

It's clear the media and politicians all intend for those other brokers to get away with it. The ONLY way they won't is for us to plaster their names everywhere and make it IMPOSSIBLE to ignore.

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πŸ‘€︎ u/RoseyDove323
πŸ“…︎ Feb 02
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It should absolutely be legal to sleep in your car anywhere you want, where you can legally park.

Seriously, this is probably the dumbest law I have ever seen, why should you not be allowed to sleep inside your own property??

It doesn't even change a damn thing, wether you are insinde the car or not, you are neither disturbing nor endangering anybody.

The only thing this law probably does, is encouraging driving tired or intoxicated and making the cops arrest innocent people for another absolutely stupid reason.

I wonder why this law even exist and why there isn't an outrage to abolish it.

I'm so happy that it's legal here where i live.

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