I don't think they would get a license to become a bank however if enough qualify to be accredited investors (which generally means you have sustained wealth) they could start a hedge/PE fund, then file for a SPAQ and go public. From there they could probably actually acquire a licensed bank (Some thrift in South Dakota where the business laws are lax, unless the FTC steps in), of course a good move would be to create a shell company to make any actions less apparent to regulators.
This will certainly an interesting economic study.
I definitely won't go near though, soda water was on sale for 17 cents at the supermarket, I'm going to consider that my gain for the day.
I don't think they would get a license to become a bank however if enough qualify to be accredited investors (which generally means you have sustained wealth) they could start a hedge/PE fund, then file for a SPAQ and go public. From there they could probably actually acquire a licensed bank (Some thrift in South Dakota where the business laws are lax, unless the FTC steps in), of course a good move would be to create a shell company to make any actions less apparent to regulators.
This will certainly an interesting economic study.
I definitely won't go near though, soda water was on sale for 17 cents at the supermarket, I'm going to consider that my gain for the day.
this could be a precursor for them to realize they can incorporate a bank and become a powerful investment fund banding together. if they shut down wall street bets, i feel like this would be the best option for a lot of them.