This stock market scandal is so blatantly corrupt Republicans and Democrats actually agree for once

The Right and Left have probably never been as deeply divided on as many issues as they are today.

Quite frankly, it seems to have reached a point where a Republican could say the sky is blue, and a Democrat would argue that it’s green.

So the fact that Republicans and Democrats are actually in agreement for once, just proves how blatantly corrupt this stock market scandal truly is.

If you’ve been living under a rock, last week was quite the week for the stock market.

Essentially, there’s a virtual financial rebellion going on in which ordinary citizens are fighting back against the big banks and Wall Street cronies who have for too long exploited our financial system at the expense of the American people.

It all started when a group of small day traders, mainly from the subreddit WallStreetBets, identified that some hedge funds – particularly Melvin Capital, a fund not well liked by armchair traders – had taken large short positions on GameStop’s stock.

Basically, the hedge funds were betting that GameStops stock price would go down, and if the price did go down, then the hedge funds involved would once again make massive profits at the expense of GameStop, it’s employees, and investors.

So, in order to attempt to prevent Wall Street from winning once again, many on WallStreetBets along with others across the Internet, banned together to begin buying GameStop stock, driving the price higher and higher.

As the share price rose, so did the level of attention the movement gained, thus getting more and more amateur traders involved in the effort and driving GameStop’s price up even higher.

On January 12, GameStop was trading at about $20 per share, but with so many small investors joining forces to drive the price up in order to stick it to the fat cats on Wall Street, by the time the markets opened on Thursday, January 28th, the price had soared to almost $400 per share.

With the price of the stock soaring, the hedge funds who had taken a short position betting that the price would go down, were set to lose upwards of $19 BILLION according to recent reports.

“Hedge funds and other institutions shorting GameStop stock are sitting on losses of around $19 billion as of Friday, according to new data shared exclusively with Insider,” Business Insider reported. “Figures from data provider Ortex showed investors who had bet the share price would fall have been massively squeezed, with losses topping $10 billion on Wednesday alone, when GameStop soared 135%.”

Now, some estimates suggest that the actual number may be closer to $70 BILLION!

With the prospect of some hedge funds losing in such catastrophic fashion, those who pull the strings behind the scenes of our financial system sprung into action to save all the millionaires and billionaires while crushing the common man.

Robinhood, a free trading app that claims to be for “democratizing finance” and is the chosen trading platform of many ordinary citizens, essentially shut down their customers’ ability to trade the stock right before the market opened on Thursday.

Meanwhile, hedge funds were fully able to trade the stock as they saw fit without any restrictions on their activities.

Unbeknown to most every person using the app to trade GameStop and other stocks, Robinhood’s real clientele are the hedge funds and financial institutions who were set to lose BILLIONS.

So by shutting down their customers ability to do anything but sell their GameStop shares, Robinhood manipulated the market in a way that caused the price of the shares to go down, providing their fat cat buddies with an entire day of cover so that they could get out of their positions and avoid losing money while the little people suffered.

And that type of blatant market manipulation has caused outrage on both ends of the political spectrum with even Senator Ted Cruz and Rep. Alexandria Ocasio-Cortez actually agreeing on the issue.

For once, Republicans and Democrats are both in agreement, and fortunately for the American people they both seem to be on the right side of this issue.

But, at the same time, simply having hearings in Washington, D.C. as they have done with Big Tech companies like Facebook and Twitter recently isn’t enough.

This isn’t a situation where simply passing new regulations for the financial institutions who have manipulated the system to make profits while causing the American people to suffer or merely handing out fines is enough.

As avid daytrader and founder of Barstool Sports, Dave Portnoy, put it in his interview on FOX News’ Tucker Carlson Tonight put it, “I think people have to go to jail.”

The American people are fed up with the system being rigged against them, and there is no better example of that than what has happened with Robinhood and the GameStop stock.

Now is not the time for half measures or simple political gestures that are designed to make politicians appear as though they are doing something, while they continue to sit on their hands.

While it’s great to see that Republicans and Democrats can actually agree on such a massive, blatant problem, they also need to be able to agree on what has to be done next.

Americans need answers.  They need action.  And they’re demanding these Wall Street scumbags to be held accountable.

Whether politicians agree on that or not, the American people will accept nothing less.

Stay tuned to Right News Wire for any updates to this ongoing story.

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