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Plan is not DRS
(lemmy.whynotdrs.org)
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this post was submitted on 25 Jul 2023
58 points (96.8% liked)
DRS Your GME
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I agree. At the end of the day, remember that all of us have the ability of critical thinking. No DD has ever been absolutely perfect. The heat lamp DD made a design flaw (feature) of the DRS obvious to everyone. It helped understand that plan shares can be used by the DTCC, as is now confirmed even by the SEC.
I think this DD is an important milestone for investors who are already very knowledgable, as they might already be DRSd but missed an important little detail in their seemingly direct registered shares. They will want their shares far away from the reach of the DTCC after this DD. It gets the point across. But sure, it can be made simpler. Do it. The thing is, phrasing something in fewer words is an incredible amount of work.
A % of plan shares are held via ComputerShare’s broker at the dtcc, for operational efficiency. This has been the bottom line argument for booking shares, for over 2 years now.
but it always just gets buried, deeper than Hoffa. Above, is proven fact.
The rest dilutes above, a bit. I believe the heat lamp theory, but the above simple tidbit is the bottom, provable line.
Like I said, eventually if there’s actually the majority of drs’d shares in book, but dtcc is reporting the majority of drs’d shares as on their books because of the “in the plan” loophole…..it’s not going to hold up.
To be clearer on what I didn’t like: there was quite a focus on terminating plan/selling fractionals being this huge quick dagger that would expose super fraud. I think no dingleberries, and not being a part of any parts of the plan are the way to go. But I don’t necessarily think if everyone woke up tomorrow and did so, that there would be fireworks in our favor.
I don’t think anything is going to happen quickly, because of idiosyncratic risk. Too many people, need a controlled blow up or too many good things implode (all the innocent shit that is going to feel the pain via collateral damage)