What brokerage firms have failed or are about to fail because of GameStop? It's the hedge funds who got whacked not the little guy.

But I can't help but think that the investors of some of the now bankrupt firms will just go on to find other highly paid jobs, but what about the layman?

Investors don't have to find other highly paid jobs if a firm goes under. The employees must do so.

Hasn't a large number of normal people's 401k, college funds and other assorted savings, just gone down the toilet?

Reputable money managers of 401k plans etc. do not and did not short large amounts of GameStop (140% of the float) resulting and vast loss of normal people's life savings. It the speculative hedge funds and speculative traders who got whacked. Affluent people invest in hedge funds because of the higher potential for profit which is a double edged sword with higher risk. The winner in the GME contest was the average Joe on Reddit.

What brokerage firms have failed or are about to fail because of GameStop? It's the hedge funds who got whacked not the little guy.

But I can't help but think that the investors of some of the now bankrupt firms will just go on to find other highly paid jobs, but what about the layman?

Investors don't have to find other highly paid jobs if a firm goes under. The employees must do so.

Hasn't a large number of normal people's 401k, college funds and other assorted savings, just gone down the toilet?

Reputable money managers of 401k plans etc. do not and did not short large amounts of GameStop (140% of the float) resulting and vast loss of normal people's life savings. It's the speculative hedge funds and speculative traders who got whacked. Affluent people invest in hedge funds because of the higher potential for profit which is a double edged sword with higher risk. The winner in the GME contest was the average Joe on Reddit.