Fox News Host Tucker Carlson compared Wall Street's tactics during the GameStop Reddit Revolution Thursday, comparing them to the response to the Occupy Wall Street movement of 2011.
“Rather than address their grievances, some of them legitimate, Wall Street and its countless puppets in the media just changed the subject," Carlson said.
On Wednesday, people in the Reddit community r/WallStreetBets coordinated purchases of GameStop’s stock, causing it to more than quadruple over a two-day period.
“Turns out that what Wall Street really hates is outsider trading, the idea that people from outside their world might be getting rich. That’s the one sin they can't abide."
Below is a transcript of this portion of “Tucker Carlson Tonight."
Tucker Carlson: But here’s what makes the hedge fund managers different from you -- they have a lot more power than you, they control the game. So they immediately change the rules of the game. Today, the investment app Robinhood, which is used by independent investors to buy and sell stocks, banned its users from trading GameStop shares, as well as from several other company shares. No one even knew that was legal, maybe it isn’t, but Robinhood did it anyway and they did it under pressure from the hedge funds, who they really work for. So much for the “free market” you’re always hearing about. There’s nothing free about it. That turned out to be a lie. Turns out that what Wall Street really hates is outsider trading, the idea that people from outside their world might be getting rich. That’s the one sin they can't abide. The management of Robinhood, of course, didn’t admit any of this...they can't. They are still posing instead as an outpost of inclusive, progressive values in a sea of rapacious capitalism, the irony being, of course, Robinhood is the most rapacious. They sell information they gather from their customers to the hedge funds, who use it for their advantage, and most customers don’t even know. How’s that for progressive? On the other hand, they do support BLM. They are against hate and systemic racism, they're for science, and they want you to know that. Here’s an ad from Robinhood that ran just last month.
Robinhood ad: Remember when greed was good? When you had to look the part? When you had to pay for a seat at the table? We set out to change it, the way the system works, to put the power in everyone’s hands, to make it feel, speak, sound, and look just like you. We all invest everyday...in ourselves, our communities, our future. We are all investors.
Carlson: It’s so fun to watch that stuff after the fact. That ran a month ago. "We set out to change the way the system works," says Robinhood. Well that’s for sure. In fact, that’s literally true. Robinhood changed the system at precisely the moment when people from outside the system started benefiting from the system. Sorry, proles, no trading for you; we're locking your account. Other platforms took effectively the same position, but felt the need to pretend a little more than Robinhood did. They justified changing the rules by attacking the very people they were hurting by changing the rules. The communication service Discord, for example, banned users from the Wall Street Bets group from using its platform. Why’d they do that? It wasn’t at all because the Reddit guys were beating the hedge fund guys at their own grubby game and that’s not allowed. No, it had nothing to do with that, of course! No, instead they were banned, according to Discord, because the Reddit guys had engaged in "hate speech."
Of course, the Reddit guys were racists. That’s why they humiliated the hedge funds. Only a racist would do that. You can laugh if you want, but keep in mind…this is a time-tested tactic. It works; that's why they do it. Remember back, if you can, to the Occupy Wall Street protest of more than a decade ago. The 2008 crash wrecked an awful lot of families in this country; many have not recovered even now. People were angry about that and many blamed Wall Street and they said so. But rather than address their grievances, some of them legitimate, Wall Street and its countless puppets in the media just changed the subject. So it was right about this point that we started hearing an awful lot about identity politics. We can prove that. In 2011, when the Occupy Movement was at its peak, mentions the word "racism" in The New York Times, The Washington Post, and The Los Angeles Times skyrocketed. In the case of The Washington Post, which is America’s most committed defender of entrenched power, literally owned now by the richest man in the world, mentions of racism nearly tripled at the height of Occupy Wall Street. Oh, and of course, it worked. They changed the subject; they're doing that again. They always do that, always.