The Senate Banking Committee will hold a hearing on the “current state of the stock market”, incoming Speaker Senator Sherrod Brown said on Thursday, criticizing a growing number of MPs for curbing reddit-fueled trades at companies. GameStop Corp.
“People on Wall Street only care about the rules when they are hurting. American workers have broken the Wall Street system – they are paying the price, Brown said in a statement. “It’s time for the SEC and Congress to make the economy work for everyone, not just Wall Street.”
While Brown did not announce a date for the hearing, a rare bipartisan collection of lawmakers joined critical platforms such as Robinhood Markets Inc., to limit trading in certain stocks, states that it unfairly harms regular people who should be allowed to trade freely as funds.
Representative Alexandria Ocasio-Cortez and Senator Elizabeth Warren, as well as Senate Banking Republican Pat Toomey, said the moves are qualifying regulatory regulatory scrutiny. House Speaker Nancy Pelosi called the trades “interesting”, adding that agencies concerned should investigate the issue.
Tommy, who is poised to become the top Republican on the Senate Banking Committee, said he is troubled by trades preventing Robinhood and other platforms.
“I find it very disturbing that a platform will suddenly freeze investors,” Tomei said. “People should be free to make the investment decisions they choose.”