Brief summary of the whole memelords vs hedge funds in the financial sector

Due to my poor knowledge of the stock market, I’ve been unsuccessfully trying to wrap my head around the whole GameStop shares, hedge funds, and whatever it is that caused the stock market to crash yesterday.

Let me be honest here, the only reason I found out is because of the memes from the last couple of days, and also because I lost money in my Acorns account. so I instinctively blamed government announcements and their current infights until I sarted reading about the whole situation, so here’s a sort of summary that does a pretty good job at explaining what happened.

It makes me wonder how may brokers and lenders will end up declaring bankrutpcy or asking for a bailout.

In any case, I wonder if the government will step in for all the wrong reasons in an attempt to prevent this from happening again. By this I mean people trying to stick it to the bad actors instead of actually preventing these a-holes from continuing this sleazy behavior.