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Charlotte, NC — Throughout his campaign, Joe Biden said that he would be a president for all-Americans. In his inaugural address, President Joe Biden said that he was going to fight for all those who voted for him and those who didn’t. After what we saw on Thursday, he did not live up to that commitment.
Thursday saw average, everyday Americans stand up to Wall Street. Big hedge funds lost billions while average Americans banded together and outsmarted them to make thousands. It was capitalism at work until it wasn’t.
Popular trading app Robinhood ceased trading of the stocks that were in question. The biggest controversy was in GameStop stock, which rose from around $20 to over $300.
Hedge funds lost billions and were forced to push capital into their positions to protect themselves They were forced to sell the stock for losses and they did not like that one bit. So they started to complain.
The mainstream media ran the stories, sharing how Americans were utilizing a free market and capitalism. They received the support of Sen. Ted Cruz and Rep. Alexandria Ocasio-Cortez. It may be the first time she has ever supported capitalism.
One name was absent from the list of those who commented and supported everyday Americans who were affected. That was their President, Joe Biden.
When the Press Secretary, Jen Psaki, was asked about the events and what Biden may do, she refused to answer the question. Instead, she referred to an SEC statement that they were ‘monitoring’ the situation. When pressed further, Psaki said Biden was aware of the situation, but that was all she had to say about it.
Did she need anything more? If Biden were really for the American people as he claimed, he should have easily joined Cruz and AOC in calling for an investigation. He could have easily requested the DOJ and FBI to immediately take up the case.
But he didn’t. Instead, he chose to be silent and refuse to support all of those Americans that he claimed he was going to support as their President.
You do not have to look far to see why he didn’t want to do anything either. It comes in at around $74 million reasons, or the amount of money that Biden accepted from Wall Street as part of his 2020 campaign.
The New York Times shared an article back in August to talk about the deep connections that Biden has to key players on Wall Street and how they helped save his campaign through their financial support. Executives at fund after fund helped support Biden and his mission to become President.
Biden obviously needs to repay them for their help and support. It’s obvious that he needs to give back to those who helped him get where he is. He did that by remaining silent and refusing to live up to his commitment to all Americans.
Biden had a perfect opportunity to prove to Americans that he was truly operating in their best interest. He had the perfect platform to show the country and the world that he was actually going to put everyday American interests ahead of corporations and donors. Instead, he chose to remain silent to protect his big-money donors.
Many platforms are scheduled to allow trading of GameStop and other stocks again. In premarket trading on Friday morning, GameStop was already nearing the $400 price yet again. If hedge funds continue to lose, what action will Biden take next to save his friends?
Capitalism has taken center stage this week as there have been a lot of discussions surrounding the stock market. Private investors from a Reddit group made headlines as they attacked Wall Street hedge funds. Hedge funds lost billions and they did not like it. They started complaining to the mainstream media and it prompted some trading platforms to halt trading.
Jared Dyson is the Editor-in-Chief at The Liberty Loft and host of The Jared Dyson Show. Be sure to subscribe to The Liberty Loft’s daily newsletter. If you enjoy our content, please consider donating to support The Liberty Loft so we can continue to deliver great content.
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