Congress doesn’t even bring the Clearing House in to testify.
@RepMaxineWaters this hearing is a joke. We want to know about collateral requirements and leverage in the system. We want to know why it’s possible to turn off the bid and not the ask.
Ken Griffin 2021: "PFOF has been an important source of innovation in the industry"
Ken Griffin 2004: "PFOF should be banned because it disadvantages customers, undermines competition, and distort market prices. "
Who's lying?
https://t.co/FDqhRJTQAz
The Washington Post, NYT, CNBC, and the media in general are quick to label these retail traders evil and push propaganda for their billionaire friends.
Meanwhile there are working class people paying off student loans and medical bills with their gains.
Warren takes the side of billionaire hedge funds and attacks retail traders on social media. Market manipulation by the 1% is on display for everyone to see and a leader in congress chooses to back the billionaires.
Casino-like swings in stock prices of GameStop reflect wild levels of speculation that don’t help GameStop’s workers or customers and could lead to market instability. Today I told the SEC to explain what exactly it's doing to prevent market manipulation. https://t.co/NWaZe1jFVb
Institutions borrow 140% of the float to short a real company with real employees to zero, but they want a bailout when u/deepfuckingvalue and Wallstreet Bets counter trade them and win.