There was a bill introduced in 2018 to tax high frequency trading firms 10 basis points for rapid trading.
It was forecasted to generate $777B over the next ten years.
The bill was killed.
This morning I filed a class action lawsuit against Robinhood for negligence and breach of fiduciary duty, among other claims. NELSON v. ROBINHOOD FINANCIAL LLC et al, 1:21-cv-00777. In Robinhood's own words "Let the People Trade." @wallstreetbets
This is unacceptable.
We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.
As a member of the Financial Services Cmte, I’d support a hearing if necessary.
The Official Week 7 NFL Model Plays:
Bengals ML (+160) 2.00 to win 3.20
Saints ML (+150) 2.00 to win 3.00
Chargers +2 1.65 to win 1.50
Colts -1 1.58 to win 1.50
Ravens +3 1.50 to win 1.50
Redskins +10 1.80 to win 1.50
Eagles +3 1.25 to win 1.00