Activist investors unleashed chaos on Wall Street this week, nearly bankrupting hedge funds, juicing the stock prices of fading companies, and most importantly, exposing the two-tiered system of finance.
In broad daylight, some of the most recognizable online brokerages showed the world that they believe in a free market only in theory. Robinhood, the app that democratized retail investing by letting users make commission-free trades, provides the richest irony. Now that main street America can aggregate market information and has the power to short stocks and buy options, the very firms that opened the stock market to millions have had a change of heart.
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