The DTCC called Robinhood to ask for three billionextra dollars to back up the buying...
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The DTCC called Robinhood to ask for three billion
extra dollars to back up the buying activity
in GameStop and AMC. They told Robinhood, "Hey, we need three billion
dollars in, essentially,
collateral from you, in case these trades
don't go through
so that you can cover it." So Vlad, in true bad-guy form, decides to protect his company
over his customers by proposing giving the DTCC
less money if he shuts down
the "Buy" button. They agreed. It's important
to remember, though, that any one story
about what happened in January is only ever going to be
part of the picture
extra dollars to back up the buying activity
in GameStop and AMC. They told Robinhood, "Hey, we need three billion
dollars in, essentially,
collateral from you, in case these trades
don't go through
so that you can cover it." So Vlad, in true bad-guy form, decides to protect his company
over his customers by proposing giving the DTCC
less money if he shuts down
the "Buy" button. They agreed. It's important
to remember, though, that any one story
about what happened in January is only ever going to be
part of the picture
Full Transcript
00:00:01.000 --> 00:00:03.125
The DTCC called Robinhood
00:00:03.292 --> 00:00:05.125
to ask for three billion
extra dollars
00:00:05.292 --> 00:00:07.917
to back up the buying activity
in GameStop and AMC.
00:00:08.084 --> 00:00:10.417
They told Robinhood,
00:00:10.584 --> 00:00:14.875
"Hey, we need three billion
dollars in, essentially,
collateral from you,
00:00:15.042 --> 00:00:18.209
in case these trades
don't go through
so that you can cover it."
00:00:18.375 --> 00:00:20.334
So Vlad, in true bad-guy form,
00:00:20.005 --> 00:00:23.542
decides to protect his company
over his customers
00:00:23.709 --> 00:00:26.917
by proposing giving the DTCC
less money
00:00:27.084 --> 00:00:29.002
if he shuts down
the "Buy" button.
00:00:29.875 --> 00:00:30.917
They agreed.
00:00:31.834 --> 00:00:33.334
It's important
to remember, though,
00:00:33.005 --> 00:00:36.125
that any one story
about what happened in January
00:00:36.292 --> 00:00:39.167
is only ever going to be
part of the picture.
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Movie Summary
Retail investors and twin brothers Finley and Quinn Mulligan give an insider look at the GameStop "short squeeze" and the "Apes" fighting for transparency and accountability in our corrupt capital markets.
