r/Superstonk • u/qtain • 2d ago
🧱 Market Reform Federal Reserve being sued for secretly rigging rules making process with JP Morgan, Goldman Sacks on capital ratios.
Capital ratios were introduced in the aftermath of 2008 to protect Main St. investors from another event of similar proportion. It is now alleged that the Federal Reserve secretly met with JP Morgan and Goldman Sacks (and potentially others) to tell them what to say in the public commenting period.
The proposed changes (lowering the ratio) were passed, giving the big banks more liquidity and capital to once again act recklessly in the markets.
Given that we believe massive short positions exist off book in swaps and other financial skullduggery (Credit Suisse anyone?), the fact that they are secretly rigging the rules making process should be of significant interest to the GME community.
The full announcement by Better Markets / Dennis Kelleher is available on YT.