Google has apparently deleted tens of thousands of negative reviews of the stock trading app Robinhood as users struck back after the service prevented them from trading this week amid the GameStop rebellion against Wall Street.
Hordes of amateur traders pushed the price of GameStop’s shares up in a short squeeze that, to make a long story short, put hedge funds that had bet on the company to fail by shorting its stock in a difficult position.
The strategy from thousands of people who organized online was brilliant, yet simple. Billions of dollars could be lost by Wall Street’s major players before this is all over with, which shouldn’t be an issue. All is fair when the market is free and open, right?
The only issue is that once it appeared that ordinary people had positioned themselves to earn some money off of those savvy few among us who generally make most of the profit, Robinhood found it appropriate to prevent small traders from moving their shares around on Thursday.
GameStop, by the way, wasn’t the only company the amateur investors targeted with a squeeze, and that Robinhood blocked users from trading.
The full list of stocks Robinhood is blocking users from buying:
American Airlines $AAL
Best Buy $BBY
Castor Maritime $CTRM
Tootsie Roll $TR
Forcing them all down.
— Kyle Potter (@kpottermn) January 28, 2021
Some trading has been restored for the peasants, but the damage is done and the lawsuits are coming.
Robinhood framed its decision to hinder those of us who use the service from playing the Wall Street game with the big sharks as being meant to protect us lowly peasants. Yeah, sure.
— Robinhood (@RobinhoodApp) January 28, 2021
There is speculation — though it is just that, speculation — that the apparently anti-capitalist Robinhood blocked normal, risk-taking capitalists from playing along so that the sharks with friends in high places could move enough volume to cover their shorts.
Essentially, a company that calls itself Robinhood appeared to have allowed the not-so-wealthy to be put in timeout by rigging the game. This isn’t capitalism. This is leftist cronyism.
The issue isn’t about who is wealthy or not wealthy, either. The issue is that those who work normal jobs and make savvy investments want to be big fish, if indeed our decisions are smart enough.
Capitalists take risks, and sometimes they pay off, while sometimes they don’t. Sometimes, we lose, and that’s life.
But Robinhood interfered with the natural order of things.
Now, there is a reckoning going on in the app’s rating section in the Google Play Store, which was hit with thousands and thousands of bad reviews — enough to drop the app’s rating to one star.
But Fox Business reported Google is standing between scores of unhappy Robinhood users and deleting negative reviews of the app. As of Friday, Google had removed roughly 100,000 such reviews, according to 9to5Google, with the company even confirming its actions to The Verge.
Big Tech’s leftist billionaires have already been on a warpath this month showing us who they really are. Twitter banned former President Donald Trump and other conservatives, while Facebook also suppressed free speech.
Weeks later, Robinhood showed us that Wall Street investing is apparently rigged against America’s middle class, and now Google is standing in to mitigate the damage.
The rot of Big Tech on our society is everywhere. Most Democrats, meanwhile, are nowhere to be found when they’ve finally had a chance to stand up to what appears to be corruption by the elite. The party which routinely slams the wealthy is allowing ordinary Americans to be robbed by Robinhood in the same month that free speech was deemed not free for all by other tech titans.
Of course, we can’t leave out that current Treasury Secretary Janet Yellen, who Biden tapped for the job just weeks ago, actually might tie into this whole mess.
The left-wing outlet Slate reported: “One of the individuals who would be expected to weigh in on [the Robinhood saga] is Treasury Secretary Janet Yellen. Complicating the issue, though, is that Yellen has been paid $7.2 million in speaking fees since 2019 by a long list of corporations, including many major banks and investment firms. One of them is Citadel — her disclosure form doesn’t distinguish between Citadel Securities and Citadel LLC — from which she got $810,000 for two speeches and a series of ‘webinars.’”
“Robinhood carries out those trades by routing them to other firms to execute in the actual relevant market (i.e., a computer somewhere). One of the firms that does that for Robinhood, and in fact pays Robinhood for the privilege, is Citadel Securities. Citadel Securities and Citadel LLC are both owned by [billionaire Ken Griffin].”
Citadel also reportedly aided one of the hedge funds hit hard by the short squeeze, Melvin Capital, with a $2 billion cash infusion.
The American dream is being crushed by what appears to be rampant corruption everywhere, and we’re barely even 10 days into the administration of President Joe Biden, who surely won’t make things better.
This article appeared originally on The Western Journal.
Article Source : thefederalistpapers.org