Thread by @dlauer

I watched the @hbomax documentary "Gaming Wall Street" by @tobiasdeml. The doc does an incredible job of boiling down some very complex and difficult topics, and makes them accessible to a broad audience. I'm going to thread some choice quotes here - there were so many good ones.

@hbomax @tobiasdeml TRUTH: "One of the real problems with Washington policy-making is that it’s dominated by money, and it’s dominated by the lawyers and lobbyists of those who have money, and really… nobody has more money than the financial industry. They have an army." @DennisKelleher

@hbomax @tobiasdeml @DennisKelleher "The financial returns that they get for their investments in manipulating Washington DC is way better than really any return they can get on Wall St or in the markets. Where does it all go to? … To tilt the playing field in favor of the banks." @DennisKelleher

@hbomax @tobiasdeml @DennisKelleher “If you look at each one of these violations in isolation, it’s pretty bad. But when you open the aperture and you look at it over the last 20 years, the level of illegal activity and misconduct is just astonishing.” @DennisKelleher (he had a lot of awesome quotes)

@hbomax @tobiasdeml @DennisKelleher “One of the big problems we have is the huge disparity of power in our financial markets. And so you have this entire ecosystem that’s really designed to both be opaque, non-transparent, and for the purpose of wealth extraction for the few, not wealth creation for the many.” DK

@hbomax @tobiasdeml @DennisKelleher “White collar crime is often much much more devastating than street crime. It has much broader implications. And yet, because they have white collars, and they talk to regulators with white collars ... years and years of there being no consequences." @DennisKelleher

@hbomax @tobiasdeml @DennisKelleher “Getting your arms around who owns your shares is challenging.” - David Wenger

@hbomax @tobiasdeml @DennisKelleher “Naked shorting leads to failed transactions, it leads on occasion to overvoting of stock.”

“The rules do not go far enough. There should be zero instances of naked short selling”

Harvey Pitt, former SEC Chair

@hbomax @tobiasdeml @DennisKelleher “If you don’t put people in jail, you’re never going to fix this.” Wes Christian

@hbomax @tobiasdeml @DennisKelleher This was one of the last quotes, by the narrator:
“If those dipshits on Wall St can master the system, so can you. It’s your money, it’s your system, it’s time to take it back."
#WeTheInvestors are here to take it back!

https://twitter.com/dlauer/status/1499384661130321925