RatS 3: The GameStopping of Wall Street

Matt Taibbi has written a great article on the GameStop game: Suck it, Wall Street.

(Subheading: In a blowout comedy for the ages, finance pirates take it up the clacker.)

It’s all really worth reading, but here’s Taibbi’s summary:

[E]verybody “understands” what happened with GameStop. Unlike some other Wall Street stories, this one isn’t complicated. The entire tale, in a nutshell, goes like this. One group of gamblers announced, “Fuck you!” Another group announced back: “No, fuck YOU!”

That’s it. Or, as one market analyst put it to me this morning, “A bunch of guys made a bet, got killed, then doubled and tripled down and got killed even more.”

UPDATE (07/02/21)

Taibbi interviews one of the GameStop gamers.

And, Taibbi responds to a critic.

Leave a Reply

Your email address will not be published.

The maximum upload file size: 128 MB. You can upload: image, audio, video, document, spreadsheet, interactive, text, archive, code, other. Links to YouTube, Facebook, Twitter and other services inserted in the comment text will be automatically embedded. Drop file here

This site uses Akismet to reduce spam. Learn how your comment data is processed.