Fabulous work, Jim. I want to throw my two cents in. Robinhood is a perfect example of the power of technology outrunning—deliberately, it appears—the absolute need and legal requirement for safety and soundness from a governance perspective. I'm all for democratizing finance and the emergence of disruptive FinTechs that gives consumers alternatives to conventional financial organizations, but let's call this what it is: overwhelmingly negligent (at best) or criminal. Either way, RH should not be allowed to reap the rewards of this inept/deceptive behavior.
Excellent analysis, as always, Jim. Robin Hood's operating numbers have never been impressive, their platform is second-rate (except for the ease of opening and funding an account, of course), and their regulatory exposure is ungodly. Caveat emptor.
Fabulous work, Jim. I want to throw my two cents in. Robinhood is a perfect example of the power of technology outrunning—deliberately, it appears—the absolute need and legal requirement for safety and soundness from a governance perspective. I'm all for democratizing finance and the emergence of disruptive FinTechs that gives consumers alternatives to conventional financial organizations, but let's call this what it is: overwhelmingly negligent (at best) or criminal. Either way, RH should not be allowed to reap the rewards of this inept/deceptive behavior.
Excellent analysis, as always, Jim. Robin Hood's operating numbers have never been impressive, their platform is second-rate (except for the ease of opening and funding an account, of course), and their regulatory exposure is ungodly. Caveat emptor.