Latinos dying daily from Covid-19 increase 1,000% in Los Angeles county Guardian
New Report From Rep. Katie Porter Reveals How Big Pharma Pursues ‘Killer Profits’ at the Expense of Americans’ Health Common Dreams
The U.S. Economy Excels at One Thing: Producing Massive Inequality CounterPunch
Facebook is banning leftwing users like me – and it’s going largely unnoticed Akin Olla
Welcome to Subway Where the Bread Is Cake, a Foot Is 11 Inches, and the Tuna Isn’t Tuna (Allegedly) Eater
A Georgia city is replacing a Confederate monument with a statue of civil rights hero John Lewis CNN
GameStop
Analysis: How Wall Street gains from ‘populist’ trading movement Reuters
Steep gains in shares of GameStop Corp and other stocks this week have been described as populist market revolts. But among those out ahead are some of Wall Street’s largest asset managers, which can realize gains both from their share stakes and from lending out stocks to short sellers. Other beneficiaries include market-makers and trading systems that profit from huge volumes.
GameStop Shares: 5-Count Felon JPMorgan Could Have Made Upwards of $174 Million Yesterday Wall Street on Parade
The mainstream media narrative is that a bunch of amateur traders on a Reddit message board, r/WallStreetBets, wanted to take down evil hedge funds, like Melvin Capital, that were shorting the stock of GameStop (making bets it would decline in price) so these egalitarian activists set out to pump up the stock price.
There are a lot of problems with this narrative. For starters, the trading platform that a lot of the traders at WallStreetBets uses is called Robinhood, a private company whose investors include private equity firms and – wait for it – hedge funds
Google salvaged Robinhood’s one-star rating by deleting nearly 100,000 negative reviews Verge
China
NYT’s China Syndrome FAIR
Dressing the Emperor: The Dangerous Farce of the Petite Bourgeoisie Spectre
See yesterday’s news links here
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