The most important roundup of news for AMC April 28 2021
- As established earlier (see April 23 entry), any still-unpurchased synthetic shares that were identified during the April 20 share recount go into default. Per SEC rules, hedge funds now have 21 days (which equates to approximately May 19) to purchase those FTD shares or face forced liquidation at the hands of the “big banks.”
- Bank of America announces early redemption of $2,250,000,000 in senior notes
- SEC Director of Enforcement (Alex Oh) Suddenly Resigns for “Personal Reasons”
- HUGE! SEC Commissioner Hester M. Peirce makes extremely telling comments about family offices and hedge funds, referring to them multiple times as “werewolves.” She specifically states that she doesn’t care if family offices and hedge funds are “losing their fortunes.” The SEC will not protect them. In fact, she wants to make sure that “less well-heeled families can build their fortunes.” In other words, she wants retail investors (i.e., “apes”) to win/prosper! Apes now have the most critical of allies!
(NOTE: Gary Gensler, the new Chairman of the SEC, is a registered Democrat appointed by Biden. SEC Commissioner Hester M. Peirce is a registered Republican appointed by Trump. Both Gensler and Peirce have publicly put targets on hedge funds’ backs. If Democrats and Republicans ***BOTH*** want the hedge funds to go down, rest assured . . . the hedge funds will go down!)