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Showing posts from January, 2021

Gamestock Stock Surge

  "There was absolutely nothing wrong or illegal about anything that was happening on the part of the army of small investors." Wrong. While many jumped on the bandwagon after it got going, many others coordinated to get it started. Colluding to manipulate the price of a publicly traded stock is securities fraud. It is being investigated and will be prosecuted by the SEC.   And this is not, as it's being portrayed, a victory for the little guy over Wall Street fat cats. Whenever the stock market is gamed, it's the little guys who always get hurt the most. In addition to small time investors investing directly in stocks, many of the institutional investors are investing the money of thousands of small investors.   Some hedge funds will be hurt, but hedge fund managers don't lose any of their money when their funds go down. They share in profits, but they don't share the losses. They don't pay any price for losing their investor's money. If the fund ...

Greatest Generation during WW2 vs Americans' COVID response in 2020

  Contrast the way Americans responded to calls for sacrifice during World War 2 with how they've acted during COVID. It has become painfully obvious that selfishness is now the cause of much of America’s political and economic problems. And worse, mask wearing, social distancing and hand washing have been weaponized by Right-Wing politicians and pundits as partisan issues. Many Americans become enraged at any suggestion that they should take other people’s welfare into consideration. They claim it's a love of freedom, but what they call “freedom” is actually a refusal to accept any responsibility for the negative consequences their actions have on others.  These same people are the ones who elected Donald Trump, who declared in March 2020, “I don’t take responsibility at all,” in reference to the coronavirus .  Will the people who refused to do anything to keep others safe while hundreds of thousands of Americans died miserably and without the comfort of their loved one...
 

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Ken Padgett
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