People Band Together Over Shared Hatred Of Wall Street

February 1, 2021, 6:54 am

You’d probably be hard-pressed to find any average middle-class Americans who are particularly fond of Wall Street and hedge funds, particularly after the 2008 crash. They make the rich richer, only serving to increase the class divides that are already constantly growing in the United States.

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Reddit’s surprisingly organized rebellion against them that has been making waves over the past week has not only drawn attention to some of the shadier practices that go on in the stock market, but it has united Americans from all non-wealthy walks of life against what they see as a common enemy.

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Ordinary people continue to hold shares of GameStop stocks, knowing they very well may lose everything they put into it when everything eventually crashes back down, hoping to force some of these predatory hedge funds out of business, hoping to make life a little bit harder for the people who have constantly made things more difficult for the rest of us.

And now some are sharing their reasoning behind their willingness to risk it all.

Some people’s families were devastated by the 2008 crash and have never recovered.

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This is incredibly sad.

So many families’ lives were torpedoed without a chance of recovery.

You think you are buying a home but it was loot in someone’s casino.

— Kachiri is a Dove (@sbeeftink1) January 30, 2021

For those trying to understand or follow the GameStop / Wall Street stuff, this is a fascinating read from r/wallstreetbets

There are a lot of people who lost hugely in 2008, have learned the corrupt way the system works, and now are, very smartly, highlighting that to the world pic.twitter.com/8pJp2HIDsK

— Heather Parry (@HeatherParryUK) January 28, 2021

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The whole r/WallStreetBets vs shorting hedgefunds is not just the normal “sticking it to the man”. It seems it is far deeper than that.

Like @chamath said, r/WallStreetBets is full of stories of kids who entered poverty because of the 2008 crash and now they are getting back pic.twitter.com/ICICZfLe91

— Sughu | SaaS ideas + Quick MVP (@sughanthans1) January 28, 2021

In 2009 I graduated with honors from UCLA. I sent ~45 cover letters applying for every entry level job I could find. The one place that gave me an interview me said they’d offer $18k a year for almost full time work. No benefits.

— Erika Ishii (@erikaishii) January 28, 2021

Others have a longstanding hatred of Wall Street that stemmed from seeing how easily the people there got away with losing everyone’s money while making themselves richer and facing absolutely zero consequences.

Yes. It’s very *shocking* that people would hate hedge funds that have mercilessly plundered the economy, destroyed millions of lives, and used our country as a cash-cow.

So. Shocking. pic.twitter.com/LgNoQYdicj

— Jared Yates Sexton (@JYSexton) January 27, 2021

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This entire GameStop saga is more about the principle than anything else. Remember that in 2008 the world suffered whilst Wall Street celebrated with champagne. Don’t let them win this one. pic.twitter.com/vZpUixzFmC

— Shihab (@JPEGuin) January 29, 2021

In 2008 AZ was devastated by foreclosures. When we advocated for a bail out of homeowners Wall Street warned against because of “moral hazard”. Now they want us protect them so they can continue to be predators. Let the invisible hand of the market take care of you.

— Ruben Gallego (@RubenGallego) January 28, 2021

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Wall Street greed caused these short squeezes. Their lack of risk tolerance is what led to the Dotcom bubble and the 2008 financial crash. Retail investors are just playing the same game. FUCK EM #WSB $GME $AMC $BB pic.twitter.com/a2cO16AZpO

— WSB Intern (@WallStreetTA) January 29, 2021

Speaking of shorting stock did they ever find out who shorted those airlines stocks just before 9/11 ? Just asking. You Wallstreet fucks are worried about GameStop but there are deeper questions that get brought up. Enjoy.

— Immortal Technique (@ImmortalTech) January 28, 2021

The two wealthiest members of my family called me this morning to say “fuck Wall Street”… so this is a serious mood

— Ryan James Girdusky (@RyanGirdusky) January 28, 2021

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While others still are simply angry about being held down and having the game rigged against them at every turn. 

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The world woke up today and told Wall Street to fuck off.

— Jason A. Williams (@GoingParabolic) January 29, 2021

maybe “fuck wall street” is the thing we can unite around as a country

— Magdalene Visaggio (@MagsVisaggs) January 28, 2021

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Watching regular people of all kinds come together to fuck with Wall Street is one of the best things I’ve seen in a while. This is the kind of creativity we need. More please.

— Comrade Misty is Putin’s Buddy (@SarcasmStardust) January 28, 2021

Either way, they all come to the same conclusion as they continue holding onto their stocks with no intent to sell until the rich bleed:

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*First Published: February 1, 2021, 6:54 am