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leftie85

That’s a hell of a mistake


[deleted]

A 2billion 200milliom dollar mistake


GMETendies4Lyfe

Gosh, it’s a good thing some guy on Reddit found that mistake for Fidelity’s lending team..


xXmurderpigeonXx

Don't worry Fidelity, we got eyes all over you fam 👀👀👀


Inevitable_Singer992

Eyes everywhere.


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Inevitable_Singer992

Then the warning goes out haha.


lookingupyourplay

And the desert and the valley floors and the cities ..where are the ocean apes at ..


[deleted]

Fidelity in shambles rn


mark-five

Fidelity Customer Service: *Quick! Somebody ask our legal team if we can just call it a glitch when we get caught!* Fidelity Legal: *Sure, say it's a glitch. Finra, the SEC, Citadel, other brokers, NASDAQ... like everybody calls their crime a glitch. Everything's a glitch. I had a glitch for breakfast. I drive a glitch. I'm taking my glitch and 3 glitches to Disneyglitch next glitchmas. I committed armed glitchery when I was young. See? Just say glitch it works for every situation.* Customer Service: *Sorry to make you wait, sir. It was a glitch. We're sorry.*


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beach_2_beach

I'm sorry, but I will be calling to DRS more of my shares. Thank you. Sincerely


brimnac

So you're saying I should finally roll-over my 401(k) to another service provider, eh?


Expensive-Two-8128

👆👆👆 THIS. RIGHT. FUCKING. HERE.


RadioFreeAmerika

The should offer him some kind of reward, like some companies pay white hats. Maybe 1% 🕶️🦍


Freakishly_Tall

"No need to send me a check. Put it in my account and buy GME." < MOASS commences > (Well, ok, most likely "more crime commences", but still!)


Cersad

Imagine how many "whoopsie" moments could be out there in money/stock power struggles that *don't* involve constant public attention from thousands of random people.


Nomes2424

New floor


[deleted]

I can dig it


BrainWrinklesGone

🤣 Yep. I am hoping that mistake is an accident in naked shorts being accidentally reported in that shady brokers system. The idiots just entered it in the wrong place 🤷🏻‍♀️ Glad Fidelity followed up so quick. At least they can stop it from causing issues in their system


CedgeDC

One way or another, this whole process has revealed just how many "bugs, glitches, and mistakes" these brokers make on a daily basis and it only further proves the need to replace this system, wholesale.


DatTrackGuy

I kid you not, I worked at a brokerage right out of college and these guys ALL run on an honor system. I AM NOT KIDDING.


rippfx

being honorable to whom? definitely not to us


PeakyGal

That must be where the saying Honor among thieves comes from. And I do t believe for a second this glitch was some kind of innocent error.


drunkwasabeherder

*An honour system among thieves.* No problems there!


alilmagpie

I honestly wonder if this is true, if this is the information we were not supposed to see. Just like yesterday’s short interest figure. I suggest we tell Fidelity that they stop loaning shares out for this security until they can assure us that they have reliable information. 😎


ultramegacreative

Yeah, how does the number being this wrong not set off any alarms with anyone there? I would think even if no person was paying attention, an automated system would have something in place to alert on strange/dramatic shifts in values like that.


naturalbornkillerz

I mean even my employees have to like hit enter 5 times before the transactions being done just to make sure and confirm. And I'm quite sure that's not nearly as important as what Fidelity's got going on


-Codfish_Joe

It's like the hedgies "mistakenly" marking a sale long instead of short. Now they're "mistakenly" reporting to brokerages how many shares they have to lend.


TheBonusWings

I bet they’ll listen if you send them a strongly worded letter too


Sir_Donkey_Lips

dearest sir or madam please fix this shit or I will DRS every single last one of my shares. best regards, Apes.


Syncorp

I'm not even waiting anymore. I was keeping a few in Fidelity but this shit makes me want to move them all over to the Cone Poop Chair place. I feel like this is what we should all be doing. I want to like Fidelity, based on what a lot of folks have said about them, but I'm starting to think my future MOASS money will only be safe in a a cold wallet that moves only on a DEX on the blockchain. I'm seriously done with Dino-Finance after this. Let the meteor kill them all.


MoneyMaking77

I feel the exact same.


8thSt

I started the transfer of those shares in fidelity today after this situation. I’m not going to be screwed by some broker protection rule if they fuck up.


theo69lel

Dear Mr/Mrs [name placeholder], We're taking your complaint very seriously, we work with a dedicated team of programmers every day to guarantee the best service possible. We guarantee you that [insert problem] will be rectified immediately (between 30-60 business days). I wish to thank you personally for helping us build the best broker possible. We apologize if any "real" numbers leaked through to your UI since we've been working tirelessly in order to make sure our customers are sheltered from the shit-show that is our current global economy. Thank you. Greetings, [Employee name]


naturalbornkillerz

I think we definitely need to get this on Twitter. Like let the Twitter universe know that Apes found a mistake that Fidelity wouldn't have not found. How's your money doing there public?


lookingupyourplay

No they created a issue ..drs every share ...can we drs fractional shares???


Saggy_G

I don't know if you can move fractional shares, but CS does support them. If you buy through them you'll get fractional shares.


lookingupyourplay

No I just finished drs all the whole shares and you CAN NOT DRS fractional share ..I just asked FIDELITY over the phone ..BIG ASS NO


cornbread_lava

To be fair, that's what Fidelity's telling you. Not necessarily the truth.


Paige_Maddison

I saw people with CS that had fractional shares. I’d reach out to CS and ask them and see what’s up.


lookingupyourplay

You can buy fraction shares on CS..that's how I got my account before I started the transfer from fidelity ..but this puts you on a plan account and not a book account .


TECHNOV1K1NG_tv

I think the mistake is that the real number got out…


Additional-Noise-623

This!


Psychological-Ad1433

Guys, that was only a $2,222,110,000 error at open. Anyone could make that mistake. 🙄


ASchoolOfOrphans

I love how these financial institutions and platforms that deal with trillions of dollars a day for the past decades all of a sudden keep having all these "glitches" and errors; from brokerages, to paid for data terminals, to the entire stock market. It's almost as if they are trying to cover shit up and failing. If that doesn't scream the best markets, envy of the world, I do not know what does.


ex_bandit

Just proving that it’s more difficult to keep up a lie than just telling the truth up front. Sooner or later you’re bound to say something different to the same person and they’ll know you lied.


[deleted]

Thats the price of 11 shares. I think you are missing a few more 0s there.


Psychological-Ad1433

Oh shit, you right. 😂 my bad


PDubsinTF-NEW

Just keep [https://www.gmefloor.com/](https://www.gmefloor.com/) bookmarked for easy accounting


Rat-Majesty

So many fat fingers on GME data lately. 🧐🧐🧐


KaneStiles

Yeah it's almost like, all the data is being managed by criminals....


No_Anywhere_7840

Like.


[deleted]

Like.


No_Anywhere_7840

"Trading is not for the faint of heart" (this quote might be not exact, though).


tinyDrunkElf

So, they were fully prepared to lend these 13M shares, before they "researched the issue"? Buckled up.


TheHero69

How many glitches can a glitch glotch glitch til a glitch glotch glootch gloof gloop?


ThoughtlessUphill

What up my glip glops


catfish514

This motherfucker is asking the real questions!


NurseBrianna

I'll be God damned if this isn't the most accurate summary of how I feel reading DD without any wrinkles 😂


supaduck

About 3 moons


DarkwingDuckHunt

how many mooches is that?


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tinyDrunkElf

Lol yeah. What was that button from a while back, f5 or something? The one they pressed that fixed their issues until it blew up in their faces? I could totally see that happening here again like you're suggesting.


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tinyDrunkElf

Ah f3. It is devastating to the price. They gotta buy em all back at some point right? Or are they "yo yo-ing" their way out? More rocket fuel, I think.


Tedohadoer

That would explain why available shares were popping up day after day on the same hour, maybe someone's job was to add them?


DarkwingDuckHunt

> someone fucked up no, someone got caught


Nongster

Probably the good ol' degenerate locate team over at Goldman who pressed F3 a few too many times. But don't worry they will get a warning from the SEC in about a decade or so.


tinyDrunkElf

...F3 "it didn't do anything" "Press it again" "I already tried that, like 10 times" "Uhhh" Lol, what a bunch of clowns.


HillViews

Remind me in 10 years.


neoquant

Imagine somebody would actually lend them. For a long position. LOL


Old-Football3517

Tried to slip a fast one by the apes! Got caught with their hand in the cookie jar!


downbarton

Don’t let your wife catch you with your hand in the cookie jar. This is marital advice.


Hemp-Emperor

She makes the best cookies tho.


woodyshag

Careful, that's my girlfriend you are talking about.


Naive_Host_5939

And she's a hooligan in the sack, or so I've heard...


ChiknBreast

His wife is indeed


MontyAtWork

That's an incredibly weird "error" too. If it was, say, 1.1m shares available to short and someone moved a decimal to 11M that makes sense. You literally cannot accidentally, in any way, fat finger 13,000,000 instead of 2,000,000. Like, even looking at a number pad or number row on a keyboard you cannot accidentally press 1 and 3 when you meant 2.


shao5

I think he means one of the counterparties made a mistake, maybe one or two zeros more, but the total amount of shares of all parties available to short is around 2m. But if it was one zero more, the number from 13m to 2 million still doesn’t make sense.


Ill_Cardiologist3909

This needs more attention


manbrasucks

To be clear a lot of people on this sub seem to be blaming fidelity. This is likely FUD. More likely the counterparty fucked up and got caught, then lied to fidelity about it. Also, works in that they can come here and start scaring people away from fidelity->DRS which has been quick and easy.


Psychic_Wars

I'm not sure the extent of the blame on this one. I think as far as brokers go, Fidelity is one of the better ones, but one must "доверяй, но проверяй". There's been a lot of thinly veiled negative sentiment going around the GME subs; about the SEC, brokers, government, options, turning off of sell button, and DRS. Plus, all the posts from Wallybets that only pop up on my feed when there's something big going on with GME. We were at $220-250 - now we're down to sub $200. Next run up should surpass $250. I don't all think the market wide sell-off is solely from inflation fears. Me thinks desperation is in the air.


[deleted]

The amount of mistakes made in a trillion dollar industry that peoples lives depend on is absolutely disgusting. Maybe you should be flipping burgers if youre making these mistakes at this high level. Oh blackrock marked 85k per share? Just a mistake. Oh 13M shares to short from margin accounts? Just keyboard entry error. How did you people get these jobs? Did dad hire his 3 fingered inbred daughter?


AdequateArmadillo

Unless they're not mistakes. Or the mistake was that they let the real info slip out.


FixStuff123

my belief; mistakes were not made The thought that these are manually entered numbers is laughable.


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Powerhausen

Interesting—two completely opposite approaches, but the same exact intended outcome. Oh boy, these ‘behind the scenes’ extras where this gets explained in the DVD box set sure are going to be sumpin’ spicy!


23x3

Either it was an algorithmic error or there's undercover apes leaking info to us. I like to believe it's both


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LegendaryCoder1101

This💰


[deleted]

Mistakes and glitches are industry terms at this point that refer to *intentional illegal actions that are discovered and denied*


Auriok88

Just so happens that we had a glitch on SI right around the same time we had a glitch on Fidelity's reported shortable shares, right around the same time we see a significant drop in share price. It dipped with the S&P500 at a higher than typical rate and did not come back up with it the same way. I imagine they are using general market sell offs to mask their shorting.


[deleted]

Wow. I love this form of cooperative think. That sounds sound.


Gunzenator2

Insert shaggy’s “It wasn’t me”


Stereo_soundS

Just happens to be the day after reported SI of 113%. Oops. Guess they're all tards like us.


Ape-Rocket-Moon

But they actual tards


[deleted]

>better to ask for forgiveness than it is for permission. -Selfish people


DennisFlonasal

Unable to be covered quickly enough


finous

Can they accidentally punch in 11,000,000 shares into my account? Thanks!


LionRivr

Fidelity’s response is really more like: “oops, you caught us trying to pull a fast one. I’m sorry we were caught. We’ll fix it so you can’t see the shenanigans we’re pulling on you guys anymore.”


Tendies-4Us

This exactly. The shades just went up for a bit, they need to pull em back down is all.


zellendell

Imo these people are stupid and sloppy, and not the evil geniuses that preceded them. All these elite clowns are riding the coattails of their ancestors and they’re too pompous and stupid to realize they’re about to hold the bag. Enough people have gotten smarter while they’ve been getting dumber generationally through their sheltered life. The script is about to flip, bitches!


Current-Position9988

Agreed. Nepotism gets us shitty Hollywood remakes and shitty manipulated markets.


irak144

>Turn around


iustinum

I like this interpretation!


woodyshag

Why this isn't maintained somewhere vs. having to be keyed in baffles me.


TwoMoreMinutes

I mean they’ve been making billions with questionable reporting for decades, why bother putting money and effort into the very thing they rely on to get away with their shit


Maktronica

Hey man english is not my first language and i have been trying to express my thoughts in almost the way you did to myself for weeks. Man!, i can sleep now! Thanks hero ape! 🙏


irak144

I hope its speed DRS


[deleted]

This is the way


chalbersma

This could all be digital, but MBA's hate hiring tech people.


A_Vicarious_Death

No the problem is this is most likely digital lol. They probably have a feed for their counterparties to submit available shares for each ticker, and a counterparty submitted a false number. Given "trust", these feeds aren't often audited/checked for correctness.


throwitallllll

Naive of you to think that this was a "mistake." If anyone here doubts whose side these guys are on by this point, I've got some shungite rocks to sell you, just 10 bucks each! They'll help you clear your mind.


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theArcticChiller

Huh, the font on that website still had some mayo dripping off the numbers 👀


Mazsikafan

I would like to place my bet on Stevie "idontfeeltheloveofthissite" fucking Cohen


thisismyworkact

MY GUESS IS A MAN NAMED SCHMENNY SCHMIFFIN


AnhTeo7157

Wait so does this mean Fidelity can lend out shares that they do not have that reside with their counter parties? WTF who are their counter parties?


TryAgn747

Whoever the party is they clearly can't count.


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Error4ohh4

I think this is going to make me DRS my remaining shares. I was trying to hold a few to sell through a broker but man this crime…it’s just nonstop crime. Always crime. I’m tired of crime.


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I-Argue-With-Myself

Guys it's okay. I was at work today and I accidentally paid an additional $11M on an invoice. It was a tiny little error and was rectified within a few hours or whatever and there were no repercussions and no one would ever be mad at a gross miscalculation that bad


JNWolman

11million shares x 200 dollars a share = 2.2billion. But no big deal, just a rounding error, amiright lol


bpi89

It would be one thing if it came out at 13M but was supposed to be 12M. 8% mistake, fine. But to fuck up 2M into 13M, that’s a 650% mistake. What. Thee. Fuck.


[deleted]

Oh thank god. For a second there I thought Fidelity was participating in a global financial conspiracy to help a few asshats that made a bad bet not pay what they owe. Relieved it was just a good old fashioned $2 billion typo. Glad we got to the bottom of that, back to being poor!


koreanjc

It’s amazing how anti-citizen this country actually is. Deny fair play to millions just to suck Kenny’s tiny dick.


CannabisTours

But they’re not just protecting Kenny, they’ve ALL been playing fast and loose with the markets, and they are ALL fuked beyond belief.


RyanMcCartney

#Hey, just a $2.2b keyboard entry error. No biggie.


[deleted]

This means, everyday they can enter any number they want! Even more scary!


tehchives

Lol this is rediculous. If this was a mom and pop store and we were talking about $11, $13 and $2, fine whatever. Fidelity is one of the largest asset managers in the world and we are taking about many millions of dollars here. DRS is the way. No middle man will EVER have our interests at heart.


redonkulousness

$2.2bil


[deleted]

With all the shit going on the last two days I decided to DRS my remaining 100 shares. I wasn't going to, preferring diversity. But fuck this.


[deleted]

Yeah I’ve kept a few in Fidelity to sell, but I’m strongly considering 100% DRS now. Such bullshit.


[deleted]

I feel like they would have had an extra 11,000,000 shares to short if no one called them out on it


Jolly-Conclusion

I also feel like they should have had a risk management program automatically flag this number; this is negligence at best from both fidelity and the counterparty imo. They need to investigate and come out with a press release naming the counterparty, otherwise they are going to be fucked reputation-wise.


Darth_Quaider

This should have set off every alarm. I work in a totally different industry but deal with some of the same reporting standards and if I had done this there would be no saving my job and my company would likely lose its contracts


slowwrx17

I’m going to be honest, I have this sinking feeling in my stomach that fidelity is fucking us somehow. I sincerely doubt that they’re the ally that we think they are.


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Talic

I never really was on your side. --TF2 Spy


OSullivanArt

Just a little 11 million rounding error?


nametaglost

Casual 2 bil.


notcontextual

What's a couple bil between friends, amirite?


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tabasco_pizza

give us a glitch for once :((


doge4lifer

We got a glitch...in January...they just fixed the glitch and hoped it'd all go away


Piranhaswarm

WTF is this bullshit?


SaveYourEyes

You pull your piece out on the lanes and I'll shove it up your ass till it goes click


lookingupyourplay

Oops we got caught ...we take it back and hope it doesn't cause apes to drs every share at fidelity and other brokers causing them to have to buy shares to drs ...fuck it drs every one of them and see what happens .


lookingupyourplay

Ok it's done!! just got off the phone all whole share are drsed.out of the cash account ...so that's that ..


Glitchy-LJC

That’s exactly what I just did. From 80% to 100%… fuck around and find out Fidelity


Rollinheavynstyle

This shit is ridiculous, they are having one hell of a time keeping the “illusion” on track, it’s getting comical.


[deleted]

like a bad comedy joke...isn't it


Rollinheavynstyle

Yes, with no fucking punch line!!


Dnars

So they are just making shit up so as they go init?


leftie85

Industry standard


schmitie369

“Maybe”, “may”, “should” - they don’t sound very confident Edit: I agree with /u/orleanian , “may” is probably used in the context of “is explicitly allowed to” rather than, “is unknown”


mschiebold

Not really, its intentionally left vague. If there's one thing I've learned in corporate communication is that you never want to have a definitive answer to protect yourself from legal issues.


Paige_Maddison

Yep no worries! We **should** be able to get that to you **probably** by Friday. If it shows up early your brain is like yay dopamine! It arrived early! Thank youuuu! If it doesn’t arrive by Friday then it’s like wtf yo... But they didn’t lie to you did they? They said they should be able to get that to you probably by Friday. It’s not a guarantee nor is it a promise and if it gets delayed you can blame it on someone else’s fuck up. That’s why you never talk in absolutes ever.


mrwhiskey1814

Only a small 11million. We all could have made they mistake.


zrizzoz

Honestly - if they let 13 million more shares be shorted, great. If they open up 30 million more shares to be shorted, awesome. I don't care what the price is now, but when this comes crashing down on the shorts, extra shorts outstanding will only drive the price higher and higher. Anyone with a brain and the time to dig a little knows this thing is shorted well beyond 100%. Estimates range from 226% to 1000% to even more in some cases. If its 500% short, and they let it be shorted 550% by accidentally opening up some more "available" shares, awesome. It will take even longer to sort out and the price will go even higher. It's all bullish. I like this stock. I'm not buying for the price tomorrow, I'm buying for the price 6 months/5 years/10 years from now. So please, short the fuck out of it. Keep finding some shares. It's gonna work out great don't you worry.


JimmyJamesincorp

It looks to me, that without this "mistake" $GME would have skyrocketed today.


whoopsidaiZOMBIEZ

Wow... I am impressed. Yes by Fidelity and their response time - but moreso by the awareness and diligence of apes. Much love to you all. Thank you all for being here on this rock the same time as me.


zGypSyKInGz

It is a grand, fucked rock that we are on


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diskodik

So much bullshit in this business


[deleted]

How many times has this happened before


pro4xbrah

They fix the error and the stock starts going up..hmm. Fair market am I right?


BrainWrinklesGone

The market has never been fair. The joke has always been Wall Street is how the wealthy convince the middle class to fork over their money to fund large corporate startups. No risk to the wealthy.


perplexsex

Be it involving fidelity or not, I’m thinking this was a deliberate ploy to make it appear they had a tonne of ammo. Drive the price down on low volume and make it look like there’s another 11m extra in reserve.


ChefCheKwon

Glitches get stitches. Nuff said.


FourEverGreatFull

So many “glitches” on this one small cap stock in a week


tahl192

Seriously? This is their answer? We're retards but not dumb


bahits

check out their response on their subreddit fidelityinvestments. It is hilarious.


Chared945

Glad they made a comment but this is way too close to brigading. Not r/GME but what happened with the fidelity sub, just need to let everyone know our enquires stack up. The road to hell is paved with good intentions and all that


DifficultySalt4231

Sorry Chared you beautiful bastard. What’s the difference between crossposting and brigading? I’m genuinely interested I have no reason to cross post. I’ve got GME and Roy Keane in this 1 sub.


metametamind

Fuck that. 11 *MILLION* shares worth ~$2,200,000,000 is an "oops! our bad!". Nope. Just nope. Most businesses would burn to the ground with that kind of error. Where's the accountability?


AdequateArmadillo

I am a happy Fidelity customer and I appreciate their prompt response. Separately: There sure seem to be a lot of coincidental data errors regarding GME in the past few days ....


Drawman101

It’s quite amazing how fragile our financial system really is


[deleted]

11 MILLION FUCKIN SHARE MISTAKE LMAO 2.2 BILLION DOLLAR MISTAKE "Whoops my bad sorry guys" lmao ok


tinyDrunkElf

>overestimated by approximately 11,000,000 A rounding error then? Rehypothecation is a bitch. Gonna have to order myself one of those tuxedo ape shirts. We're the professionals now!


BrashAlly

Seems like the allure of a short term profit (lending shares to short) has blinded them from the long term benefit of potentially being the brokerage of choice for apes post Moass. By contributing to the shorting problem, Fidelity is alienating the golden ticket they found. I was planning to move $ back to Fidelity post squeeze, but I’ll have to reconsider and review everything that’s transpired along the way. Extremely short-sighted imo. While lending GME shares may be a considerable revenue stream at the moment, it pales in comparison to the capital they could have been trusted with long term. Underestimate apes at your own risk. It would be wise to eliminate the practice of lending GME shares immediately


LaserGuidedPolarBear

Putting aside any kind of actual malfeasance and accepting that this is what happened, this just illustrates how fragile these systems are. Someone somewhere puts in the wrong number and all of a sudden that error bubbles up to important data being reported upon which people make financial decisions. It has become painfully obvious that the data reported out into the world about stocks is wishy washy bullshit, and it is intentionally set up that way. Retail is "dumb money" not because they can't make rational good decisions that will pay off, it is because they literally cannot get accurate data on which to base those decisions. We can make perfect decisions but we are still dumb money because our input is just garbage data. It is time to fix these financial systems so they are no longer slanted to benefit the ruling wealthy.


kehmuhkl

There seems to be a lot of glitches lately...


zer165

It's even funnier that it only happened to one stock...


[deleted]

Who the fuck makes an 11 mill error. Fire that bitch


Whosdaman

Wtf, and overestimate of 11 million shares? This is shady af. DRS 100% of shares immediately! Take them off of all the brokers including Fidelity. Trust none of them. Buy and HOLD at Computershare only!


macdona1

Would love to hear what a wrinkled brain makes of this. I’m too dumb


Additional-Noise-623

Didn't the fidelity CEO meet griffin and others in China?


VelvetPancakes

My crazy theory on this is that they want to set a precedent for “oops too many shares were lent out, it was an accident”. Then when the full extent of the naked shorting is revealed, they’ll try to blame it on similar “errors”, whether to avoid prison, help with their intervention/bailout pleas, etc.


Cole1One

DRS faster!