But their final conclusion will be that there is no evidence of illegal collusion between hedge funds. Citadel's bailout of Melvin Capital will be defined as a necessary measure to maintain market stability.
Their short selling was foolish, but it was also a legal market behavior.
They will do everything possible to investigate the real reason for Robin Hood pulling the plug. They will scrutinize all communications and margin requirements between Robin Hood and the clearinghouse.
But in the end, they can only helplessly adopt Robin Hood's official statement that the restriction on buying was due to the clearinghouse's margin requirements skyrocketing by billions of dollars overnight, which was for risk management purposes.
This is a perfect, unassailable procedural reason.
