I've watched a lot of explanations on the GameStop shorts situation and I think ABL has described it in terms people can understand the best. So here it is:
And I am NOT SAD in the least bit about the baths these folks are taking. NOT after this year where "the little people" got smacked down by the government with lockdown bullshit. Not sad at all. And if my investments gotta take a hit to take out some of these vampires I am A-OK with it. And Biden better not bail out these people. No laws were broken (unlike 2008) so keep your hands off.
And this is why when people look at me funny when I tell them I play BlackJack, I ask them if they are in the market because if they are in the market they are "gambling" on a far higher level than anything I'm currently doing and I have a mathematical certainty of making money so long as I play properly. And I don't borrow money to do it.
Another video where the blatant double standard and market manipulation is discussed:
Yes, They are halting trading to protect these hedge funds.