Robinhood Sued in Wrongful Death
Comments
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Ima take this one a step further too. You think it's a good idea to give an 18yo with no credit history $150k - to go to college - then you should own that risk too. Fuck you.creepycoug said:
I’m pretty much there with you myself.doogie said:“...then pushed them to engage in risky trading practices. And when those investors needed help — as Alex did the day he died — Robinhood provided no "meaningful customer support," the suit says.”
We’ve* joked for years in this forum about the risks of retail trading platforms for rookies with Big Dicks who want to #SaveOnCommision$” because they’re smarter than everyone else(tm)
Hondo got crushed in a couple of those discussions as one example.
...
Look, Mom, Dad, I don’t know you and you do whatcha gotta do. But, ... Wall Street and Casinos and Lotteries and Assets on Your Balance Sheet have all been around for a very long time.
You both seem like highly educated people. Your son was 20...
Michael Douglass? Greed is Good? Ring a bell?
hmm?... 🤔
Anyway, I am Sorry for your loss. My heart aches for you.
I am sorry to say this but in my opinion, as a message board dufus named doogie who Never gives investment advice.
Ever.
the Robinhood Trading platform on that day, gave your Son everything I expected it to give him or any other User on a volatile dynamic trading day.
Lastly and I’ll leave you folks alone,
When your 20 year old Son without a college education racked up what he believed to be $750,000 in trading losses in money he did not have... ... um.. exactly... What did You tell him?
But Fuck, I also say this. Both parties are free to contract in Rand Paul’s America damn it. If Robin of the Hood let’s, say, a 20 year old kid who has demonstrated no credit to trade on their platform and it turns out he’s not good for it, then fuck them if they can’t collect. Don’t ask the parents. They didn’t contract with you.
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I never had one class that had anything to do with financial literacy until college. It’s absolutely ridiculous it’s not taught. It’s unfathomable to think parabolas and compound chemistry are more important to be learned than financial literacy.GreenRiverGatorz said:
I had no idea that was a phenomenon. It's cliche to say at this point, but we as a country are remarkably financially illiterate. It's also cliche to say once again that we should include more financial literacy courses in high school.Doog_de_Jour said:
I forgot what the the exact percentage is, but a shockingly high number of 20 to 30 year olds cash out their 401ks when they switch jobs rather than roll them over (I wanna say close to half).RaceBannon said:
I think there was a middle path on Social Security. They tell you how much you have paid and it always hurts. Then I like to say if I had invested that I'd be rich!creepycoug said:
This was my concern with privatizing SS. Should the masses of people who retire counting on SS as the mainstay of existence be investing?GreenRiverGatorz said:I can't imagine there's an actual case here, though I'm sure they'll settle.
But the bigger picture is interesting. While at some point you can't protect adults from themselves, I do find it troubling that there's such a comically easy path to losing multiples of your own money through options trading. There needs to be at least some sort of meaningful barrier that prevents laymen from accessing those kinds of high stakes. And a dialogue box that asks "are you sure?" isn't a sufficient barrier.
Anyway, I'm a free market privateer who believes in some basic regulation ... a lying communist centrist. Does it make sense to turn these people loose into a sea of sharks against whom they have literally no chance? Their only hope being to get lucky once in a while?
But as an old grasshopper the truth is I would have blown it on hookers and blow. But is that enough reason to not let the Ants have theirs? Philosophical question
The middle road would be for the US Gubmint to actually invest the money instead of blowing it on Hookers and Blow and pass the increased payments to the customer, us.
So yeah, people aren’t always wise when it comes to their money.
In the meantime, it sounds like we need some babysitting. -
Agreed. We're talking the uber basics. The magic of compounding interest. The basic idea of the time value of money. Risk and reward capital. The difference between debt and equity ... fuck, even, what is, debt and what is, equity. How a free market works vs. a planned economis.RoadDawg55 said:
I never had one class that had anything to do with financial literacy until college. It’s absolutely ridiculous it’s not taught. It’s unfathomable to think parabolas and compound chemistry are more important to be learned than financial literacy.GreenRiverGatorz said:
I had no idea that was a phenomenon. It's cliche to say at this point, but we as a country are remarkably financially illiterate. It's also cliche to say once again that we should include more financial literacy courses in high school.Doog_de_Jour said:
I forgot what the the exact percentage is, but a shockingly high number of 20 to 30 year olds cash out their 401ks when they switch jobs rather than roll them over (I wanna say close to half).RaceBannon said:
I think there was a middle path on Social Security. They tell you how much you have paid and it always hurts. Then I like to say if I had invested that I'd be rich!creepycoug said:
This was my concern with privatizing SS. Should the masses of people who retire counting on SS as the mainstay of existence be investing?GreenRiverGatorz said:I can't imagine there's an actual case here, though I'm sure they'll settle.
But the bigger picture is interesting. While at some point you can't protect adults from themselves, I do find it troubling that there's such a comically easy path to losing multiples of your own money through options trading. There needs to be at least some sort of meaningful barrier that prevents laymen from accessing those kinds of high stakes. And a dialogue box that asks "are you sure?" isn't a sufficient barrier.
Anyway, I'm a free market privateer who believes in some basic regulation ... a lying communist centrist. Does it make sense to turn these people loose into a sea of sharks against whom they have literally no chance? Their only hope being to get lucky once in a while?
But as an old grasshopper the truth is I would have blown it on hookers and blow. But is that enough reason to not let the Ants have theirs? Philosophical question
The middle road would be for the US Gubmint to actually invest the money instead of blowing it on Hookers and Blow and pass the increased payments to the customer, us.
So yeah, people aren’t always wise when it comes to their money.
In the meantime, it sounds like we need some babysitting.
If you just did that, we'd all be better off. -
It’s also something that benefits essentially everyone instead of a very select few.creepycoug said:
Agreed. We're talking the uber basics. The magic of compounding interest. The basic idea of the time value of money. Risk and reward capital. The difference between debt and equity ... fuck, even, what is, debt and what is, equity. How a free market works vs. a planned economis.RoadDawg55 said:
I never had one class that had anything to do with financial literacy until college. It’s absolutely ridiculous it’s not taught. It’s unfathomable to think parabolas and compound chemistry are more important to be learned than financial literacy.GreenRiverGatorz said:
I had no idea that was a phenomenon. It's cliche to say at this point, but we as a country are remarkably financially illiterate. It's also cliche to say once again that we should include more financial literacy courses in high school.Doog_de_Jour said:
I forgot what the the exact percentage is, but a shockingly high number of 20 to 30 year olds cash out their 401ks when they switch jobs rather than roll them over (I wanna say close to half).RaceBannon said:
I think there was a middle path on Social Security. They tell you how much you have paid and it always hurts. Then I like to say if I had invested that I'd be rich!creepycoug said:
This was my concern with privatizing SS. Should the masses of people who retire counting on SS as the mainstay of existence be investing?GreenRiverGatorz said:I can't imagine there's an actual case here, though I'm sure they'll settle.
But the bigger picture is interesting. While at some point you can't protect adults from themselves, I do find it troubling that there's such a comically easy path to losing multiples of your own money through options trading. There needs to be at least some sort of meaningful barrier that prevents laymen from accessing those kinds of high stakes. And a dialogue box that asks "are you sure?" isn't a sufficient barrier.
Anyway, I'm a free market privateer who believes in some basic regulation ... a lying communist centrist. Does it make sense to turn these people loose into a sea of sharks against whom they have literally no chance? Their only hope being to get lucky once in a while?
But as an old grasshopper the truth is I would have blown it on hookers and blow. But is that enough reason to not let the Ants have theirs? Philosophical question
The middle road would be for the US Gubmint to actually invest the money instead of blowing it on Hookers and Blow and pass the increased payments to the customer, us.
So yeah, people aren’t always wise when it comes to their money.
In the meantime, it sounds like we need some babysitting.
If you just did that, we'd all be better off.
I won’t say History isn’t important, but knowing the ins and outs of the Battle of Stalingrad isn’t actually important and beneficially to your life. Financial literacy is. -
Hang on there, Roady: Anyone who bet the over on that battle, fucking cleaned up!RoadDawg55 said:
It’s also something that benefits essentially everyone instead of a very select few.creepycoug said:
Agreed. We're talking the uber basics. The magic of compounding interest. The basic idea of the time value of money. Risk and reward capital. The difference between debt and equity ... fuck, even, what is, debt and what is, equity. How a free market works vs. a planned economis.RoadDawg55 said:
I never had one class that had anything to do with financial literacy until college. It’s absolutely ridiculous it’s not taught. It’s unfathomable to think parabolas and compound chemistry are more important to be learned than financial literacy.GreenRiverGatorz said:
I had no idea that was a phenomenon. It's cliche to say at this point, but we as a country are remarkably financially illiterate. It's also cliche to say once again that we should include more financial literacy courses in high school.Doog_de_Jour said:
I forgot what the the exact percentage is, but a shockingly high number of 20 to 30 year olds cash out their 401ks when they switch jobs rather than roll them over (I wanna say close to half).RaceBannon said:
I think there was a middle path on Social Security. They tell you how much you have paid and it always hurts. Then I like to say if I had invested that I'd be rich!creepycoug said:
This was my concern with privatizing SS. Should the masses of people who retire counting on SS as the mainstay of existence be investing?GreenRiverGatorz said:I can't imagine there's an actual case here, though I'm sure they'll settle.
But the bigger picture is interesting. While at some point you can't protect adults from themselves, I do find it troubling that there's such a comically easy path to losing multiples of your own money through options trading. There needs to be at least some sort of meaningful barrier that prevents laymen from accessing those kinds of high stakes. And a dialogue box that asks "are you sure?" isn't a sufficient barrier.
Anyway, I'm a free market privateer who believes in some basic regulation ... a lying communist centrist. Does it make sense to turn these people loose into a sea of sharks against whom they have literally no chance? Their only hope being to get lucky once in a while?
But as an old grasshopper the truth is I would have blown it on hookers and blow. But is that enough reason to not let the Ants have theirs? Philosophical question
The middle road would be for the US Gubmint to actually invest the money instead of blowing it on Hookers and Blow and pass the increased payments to the customer, us.
So yeah, people aren’t always wise when it comes to their money.
In the meantime, it sounds like we need some babysitting.
If you just did that, we'd all be better off.
I won’t say History isn’t important, but knowing the ins and outs of the Battle of Stalingrad isn’t actually important and beneficially to your life. Financial literacy is. -
Another hot take from our 20 year old friend @FireCohenFireCohen said:Jesus, if you can’t critically think by age 20 that something is wrong then maybe life was not for him.
"The rational part of a teen’s brain isn’t fully developed and won’t be until age 25 or so.
In fact, recent research has found that adult and teen brains work differently. Adults think with the prefrontal cortex, the brain’s rational part. This is the part of the brain that responds to situations with good judgment and an awareness of long-term consequences."
https://www.urmc.rochester.edu/encyclopedia/content.aspx?ContentTypeID=1&ContentID=3051#:~:text=The rational part of a,cortex, the brain's rational part. -
Ok, let’s treat everyone under 25 a minorMad_Son said:
Another hot take from our 20 year old friend @FireCohenFireCohen said:Jesus, if you can’t critically think by age 20 that something is wrong then maybe life was not for him.
"The rational part of a teen’s brain isn’t fully developed and won’t be until age 25 or so.
In fact, recent research has found that adult and teen brains work differently. Adults think with the prefrontal cortex, the brain’s rational part. This is the part of the brain that responds to situations with good judgment and an awareness of long-term consequences."
https://www.urmc.rochester.edu/encyclopedia/content.aspx?ContentTypeID=1&ContentID=3051#:~:text=The rational part of a,cortex, the brain's rational part. -
RaceBannon said:
Supposedly the stories of stock brokers jumping out of windows in 1929 were urban legends. Didn't happen
This story is a sad tale of loss but the parents suing is part of the problem little Timmy had accepting that he fucked up only not as bad as he thought
It isn't always someone else's fault
In the financial markets everyone doesn't get post game orange slices
Major Problem in this country as it has become someone else's fault and any tragedy has become a pay day for the victims families. -
If you think that the essentisl piece to being an adult is having a fully developed brain, then I suppose your proposal makes sense.FireCohen said:
Ok, let’s treat everyone under 25 a minorMad_Son said:
Another hot take from our 20 year old friend @FireCohenFireCohen said:Jesus, if you can’t critically think by age 20 that something is wrong then maybe life was not for him.
"The rational part of a teen’s brain isn’t fully developed and won’t be until age 25 or so.
In fact, recent research has found that adult and teen brains work differently. Adults think with the prefrontal cortex, the brain’s rational part. This is the part of the brain that responds to situations with good judgment and an awareness of long-term consequences."
https://www.urmc.rochester.edu/encyclopedia/content.aspx?ContentTypeID=1&ContentID=3051#:~:text=The rational part of a,cortex, the brain's rational part.
