I think it's important to realize that all these knee jerk reactions were shown to be incorrect only 3 days later, but most people will never hear the truth. The truth is that the FTCC increased Robinhood's capital requirements, and they did not have the funds to meet this. Thus they could not allow buy orders legally, although they could allow cell orders because that would reduce their capital requirements.
I won’t speculate on the legal matter, but it sounds like a good witch hunt!
Really, a few rich targets may likely suffer (...or not, when it is so likely deserved).
I’m concerned that many Elanors, who’s teachers’ pension fund & retirement plans, were potentially compromised here.
I don’t think pensions belong in hedge funds is the bottom line.
(Combining unaccredited investor portfolios might look something like combining subprime loans, but...)