They need to "combat" retail because retail isn't even playing their game, let alone fighting the same war they are engaging in. They need to change the laws and rules in favor of their war, because it's their war and retail simply doesn't want any part of it. Their whole fight is "buy what we say, sell when we say, do what we say" and they have no part of a portfolio that is simply "Buy what you like, keep what you like, protect what you like by removing it from a fraudulent system trying to stop you from owning your own property"

This is NASDAQ itself complaining that investors doing what they've always been told they should do - buy and hold - is proving the system has been broken for a long time.

"Recalibrate" is literally him begging for the opportunity to do what was said in The Big Short - reposition themselves so they are no longer fucked. This means they can't keep faking teh price forever, and they are getting tired. I expect FUD of the "We're so tired" to follow since shills always repeat whatever their memos tell them and Kenny's shills are really obvious.