No, there is not a massive scheme to create counterfeit shares of GameStop which is being covered up by all the major players in the financial markets because they are all in on the conspiracy. There are no grand conspiracies, participants in the financial markets are perfectly happy to backstab each other, and very few of them cared one way or the other about GameStop before this hit the news.<p>In fact, none of them particularly care if one specific hedge fund goes out of business. The REAL reason that major players on Wall Street are a bit spooked by this situation is because it has received so much attention that Congress might decide to quickly pass ill-considered[1] legislation, and who KNOWS what THAT might do to things.<p>[1] "ill-considered legislation": a term referring to legislation that was not crafted in collaboration with financial industry lobbyists.
> Counterfeiting shares is extremely illegal (similar level to counterfeiting money) but it's very difficult to prove and even getting the court to approve subpoenas because of the way the financial industry has stacked the deck against investigations.<p>What the heck?
> I think the hedge funds, clearing houses, and DTC executed a coordinated effort to put Game Stop out of business by conspiring to create a gargantuan number of counterfeit shares of GME, possibly 100-200% or more of the shares originally issued by Game Stop.<p>It would take more paragraphs of text to rebuke this crackpot conspiracy...