GameStop stock exchanges; Congress is planning a hearing

GameStop stock exchanges ; The joint Congress was embroiled in outrage after the Robinhood app and other stock brokers tightened individual transactions due to a loud speaker in the GameStop stock and an AMC-driven online chat room.

GameStop stock exchanges

Some hedge funds were Gaming heavily on the collapse of those companies, and as a result of the resulting instability and Robinhood’s determination to set limits in a way that seemed to favor big investors and punish small beloved Democrats and Republicans alike.

“I totally agree,” on Twitter Senator Ted Cruz, who is one of the largest senators able to trade stock the way they see fit. ”

Senate committees

Leaders of the House and Senate committees overseeing the financial sector plan to hold a hearing on Robinhood’s decision and the circumstances that led to market changes.

“We have to deal with hedge funds that reflect the misconduct that has led to recent market fluctuations and we need to examine the whole market and how it has been used by the hedge fund and its financial partners to benefit while others pay the price,” Assortment said. Maxine Waters, chair of the Finance Housing Committee.

GameStop stock exchanges – senior Republican on the committee

Attorney Patrick McHenry, a senior Republican on the committee, said in a statement that he had asked Water to call for a hearing.

At Capitol Hill on Thursday afternoon, Cruz called for transparency and said legislators wanted to know why Robinhood had stopped trading stocks issued on Reddit by WallStreetgames and other chat rooms.

Central Republican Senator

Central Republican Senator Pat Toomey called the trading investor “very disturbing” but also expressed concern about how the trading frenzy would end.
Senate Banking Committee chairman Sherrod Brown also said he planned to hold a hearing on the matter.

Read more: Senate Banking Committee to Hold Hearing Amid GameStop

Wall Street’s system has deteriorated – GameStop stock exchanges

“American workers have known for years that Wall Street’s system has deteriorated. They have been paying the price. It’s time for the SEC and Congress to make the economy work for everyone and not just Wall Street,” he said in a statement.

Senator Elizabeth Warren pointed directly to the US

In a televised interview on Thursday, Senator Elizabeth Warren pointed directly to the US Securities and Exchange Commission, accusing the agency of failing to set rules and allowing the stock market to turn into a “Game.”

We need a SEC that will go up, that will set clear rules and will be committed to enforcing those laws, “Warren said.

a press conference at the White House

On Thursday during a press conference at the White House, press secretary Jen Psaki briefed reporters on a SEC statement and declined to comment further.
On Thursday evening, an email from Robinhood to users of the service said it would allow “limited purchases” for GameStop and AMC security on Friday.

In addition to their usual response to online trading services, disagreements between political parties remained in the wake of the January 6 Capitol riots.

Read Next: What is the Game on Wall Street, Reddit group focusing Wall Street?

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