YOU WASHINGTON IS TAKING NOTICE
THE REDDIT RALLY FUELED BY
RETAIL INVESTORS IN GAMESTOP OF
COURSE OTHER STOCKS
THIS WEEK. CONGRESSWOMAN MAXINE
WATERS CHAIRMAN OF THE HOUSE
COMMITTEE ON FINANCIAL SERVICES
ANNOUNCING AN F OFFICIAL
HEARING ON SHORT SELLING AN
ONLINE
TRADING PLATFORMS. THE
STATEMENT READING IN PART QUOTE
HEDGE FUNDS HAVE A LONG HISTORY
OF PREDATORY CONDUCT AND THAT
CONDUCT IS
ENTIRELY INDEFENSIBLE SHE GOES
ON TO CALL FOR LAWMAKERS AND
REGULATORS TO ENSURE OUR
CAPITAL
MARKETS ARE QUOTE FAIR ORDERLY
AND EFFICIENT HERE WITH THE
LATEST IT SEC AND FORCE A
BRANCH CHIEF
BRAUN GOT SOME THANK YOU SO
MUCH LISA FOR BEING HERE SUCH
AN IMPORTANT SUBJECT.
HOW DOES THE SEC REGULATE
WHAT'S GOING ON WITH REDDIT AND
RETAIL TRADERS IN THIS
SITUATION SHOULD THE SEC GET
INVOLVED. WELL THE SEC
HAS 3.
>> MAIN AVENUES THROUGH WHICH
IT REGULATES NUMBER ONE IT
DEVELOP RULES. DO A STUDY OF
WHAT HAPPENED THEN DETERMINE
WHAT NEW RULES SHOULD BE IN
PLACE. A SECOND WAY IT
REGULATES IS
SUPERVISING THE EXCHANGES AND
MARKET PARTICIPANTS LIKE
REGULATED ENTITIES LIKE
BROKER-DEALERS LIKE ROBIN.
AND THE 3RD IS
THROUGH ENFORCEMENT ACTIONS AND
THAT WOULD REQUIRE THAT
WHATEVER HAPPENED ACT ACTUALLY
VIOLATED ANY EXISTING WATER.
IF THE SEC HAS INCREDIBLY BROAD
AUTHORITY BECAUSE MOST OF THE
SECURITIES LAWS ARE IT.
CERTAINLY THE
OTHER FRAUD PROVISION IS VERY
BRIGHT. A LOT CAN JUST FALL
UNDER.
ANTIFRAUD PROVISIONS OF THE
FEDERAL SECURITIES LAWS OR.
>> IN YOUR VIEW HERE LISA HAD
ANYTHING BEEN DONE BY AN
INDIVIDUAL OR INVESTORS HEDGE
FUNDS THAT'S WIGGLE.
>> YOU KNOW I THINK I CAN START
WITH THE HEDGE
THERE DOESN'T APPEAR TO BE
ANYTHING THAT THE HEDGE FUNDS
HAVE DONE THAT IS.
>> ILLEGAL HEDGE FUNDS ARE IN
TITLE. I MEAN ANYBODY IS
ENTITLED TO PUT IN ORDERS FOR
SHORTS ELSE. THAT IS A LEGAL
AND THAT IS WHAT
THE EAST HEDGE FUNDS HAVE NOW
THEY'VE TAKEN MASK SIEVE SHORT
POSITIONS THERE'S SOME QUESTION
ABOUT WHETHER THOSE SHORT
POSITIONS ARE YOU KNOW FULLY
DISCLOSED AND AND THAT'S
SOMETHING THAT THEY
MAY NOT YOU
KNOW COMPLIED WITH THE LAW BUT
ON THE HEDGE FUND SIDE. I DON'T
SEE
A VIOLATION OF LAW AT THIS
POINT ON THE SIDE OF THE
RED TRAITORS.
ITS WORK HERE NOW THEY LOOKED
AT SOME OF THEIR MESSAGES AND
WHAT'S INTERESTING IS THAT YOU
KNOW THEY HAVE EXPRESSED
A DESIRE TO MOVE THE PRICE OF
GAMESTOP.
THAT IS CERTAIN THE FUNDAMENTAL
BASIS OF MARKET
MANIPULATION CLAIM AND THAT'S A
VIOLATION OF YOU KNOW THE
EXISTING
ANTIFRAUD LAWS. SO YOU KNOW
WHEN WHEN YOU HAVE A GROUP OF
PEOPLE OR EVEN ONE PERSON
SAYING EXPRESSLY LIKE YOU KNOW
I'M GOING
TO DO THIS TRADE SO THAT
I CAN I MOVE THAT THE PRICE OF
GAMESTOP UP.
SO THAT THEN THE HEDGE FUNDS
ARE YOU KNOW
WE'RE SQUEEZE. YOU KNOW THAT'S
ALMOST ANNOUNCING A SHORE
INTENSE.
>> THAT LEADS ME TO MY NEXT
QUESTION JUST KEEP IT UP FOR ME
LISA'S SHOULD THERE BE ANY
LIMITATIONS ON HEDGE FUNDS OR
OTHER HIGH SPEED TRADERS WHO
HAVE BEEN ON THE OTHER SIDE OF
THE SALES FOR YEARS NOW.
>> THE THINGS THAT THE HEDGE
FUNDS AND HIGH SPEED TRADERS
ARE DOING THAT YOU KNOW I THINK
THE BREAD TRADERS ARE
RESPONDING TO END THIS BY THE
WAY WOULD BE A REASON THAT
I WOULD SAY THE SEC MIGHT
HESITATE TO BRING A CASE
AGAINST THE RED
RAIDERS BECAUSE YOU KNOW
ULTIMATELY YOU END UP IN FRONT
OF A
JURY AND A LOT OF THESE DO NOT
SEEM TO BE MOTIVATED BY PROFIT
NOW NOW YOU'VE GOT THE HEAD
FUNDS WERE DOING
SOMETHING ILLEGAL AND THEY'RE
MOTIVATED BY PROFIT YOU'VE GOT
THE RED TRAITORS WHO MIGHT
CROSS THE LINE AND MAY HAVE
ENGAGED IN
MARKET MANIPULATION. BUT THEY
ARE MOTIVATED BY PROFIT, MANY
OF SO IT'S AN INTERESTING SORT
OF SITUATION TO BE A REALLY.
YEAH THAT THE HEDGE YOU KNOW
THERE ARE THERE ARE MANY WAYS
THAT THEY
YOU KNOW WHAT THEY THEY ENGAGE
IN TRAINING
IN DARK SCHOOLS THERE'S THERE'S
A REAL LACK OF TRANSPARENCY AND
I THINK THAT'S SOMETHING THE
READY. TRADERS ARE RESPONDING
TO THAT WOULD MAKE THEM YOU
KNOW INCREDIBLY SYMPATHETIC I
THINK YOU KNOW IF I WERE
DEFENDING THEM
YOU KNOW I WOULD CERTAINLY WANT
TO TAKE THEM IN FRONT OF A JURY
AND NOT GIVE IT A TRY TRYING
THE CASE.
>> CERTAINLY I WAS SAYING
EARLIER TODAY THEIR STORIES
ABOUT IT SOMEBODY PAYING OFF
THEIR COLLEGE STUDENT DEBT ARE
PAYING MEDICAL BILLS WITH THE
MONEY THEY'VE MADE ON GAMESTOP
THE LAST WEEK SO THAT'S A
REALLY GOOD POINT AND WITH
A GUN ALL OF A STABLE AND FAIR
MARKETPLACE HERE LISA FOR BOTH
INDIVIDUALS AND
PROFESSIONAL INVESTORS ARE
THERE OTHER THINGS IN YOUR
OPINION THAT THE SEC SHOULD BE
DOING.
>> WELL THE SEC
REALLY SHOULD BE TREATING IT
SHOULD BE
CREATING AND. A LEVEL PLAYING
FIELD AND
ENSURING TRANSPARENCY AND
THAT'S SOMETHING THAT ISN'T
HAPPENING RIGHT
NOW WITH IT WAS DARK POOLS AND
A LOT OF THE HIGH COURT.
IT'S
A TRADING. YOU KNOW THERE IS A
LEVEL PLAYING FIELD AND THERE
ISN'T TRANSPARENCY. SO THAT'S
SOMETHING THAT YOU KNOW, YEAH,
I'M VERY SYMPATHETIC WITH THE
PRESS, THE TRADERS WHO ARE
RESPONDING TO THIS AND SAY WAIT
A MINUTE WE FOUND A WAY TO BE
ABLE TO BRING THESE GUYS TO
HEAL YOU KNOW THEY'VE THEY'VE
THE SYSTEM THEY'RE ACTING WITH
IN THE LETTER OF THE LAW.
BUT IT'S NOT
THERE. AND YOU KNOW, THAT'S
THAT'S A SITUATION THAT YOU
KNOW I THINK MAKES SOME VERY
SOME BETTER.
>> I HAVE ABOUT A MINUTE LEFT
RELEASE AND I DEFINITELY WANT
TO GET THIS QUESTION BECAUSE WE
KNOW USERS ARE ALREADY BEING
SLAPPED WITH LAWSUITS AGAINST
ROBIN HOOD IS THERE A ROLE HERE
FOR THE GOVERNMENT TO EITHER
BLOCK OR FACILITATE THE SUITS.
>> I WISH THAT THE GOVERNMENT
HAD A ROLE IN BEING ABLE TO
FACILITATE THE LAWSUITS REALLY
THEY STAY OUT OF
DISPUTES BETWEEN. INVESTORS
CUSTOMERS OF THE BROKERAGE
FIRMS. I MEAN YOU KNOW WHAT
ROBIN HOOD DID WAS PULLED THE
RUG OUT
FROM UNDER THE THESE GUYS YOU
KNOW THAT THEY THEY SHOULD HAVE
BEEN ENTITLED TO CONTINUE TO
BUY AS LONG AS THEIR STOCK
OUT THERE. AND YOU KNOW THE
HEDGE FUNDS ARE ABLE TO LOCATE
AND PURCHASE IT. WHY CAN'T THE
RETAIL TRADERS GET OUT THEIR
PURCHASES. YOU KNOW I HAVEN'T
HEARD AN EXPLANATION FROM
ROBIN HOOD OR INTERACTIVE
BROKERS ON WHY THAT'S THE CASE
IT WOULD BE GREAT IF THE
GOVERNMENT YOU KNOW COULD COULD
INTERVENE BUT REALLY THE
SEC STAYS OUT OF THAT THEY
BRING THEIR THEY DO THEIR
INVESTIGATION THEY BRING
WHATEVER CASE
THEY'RE GOING BRING ADD THEY
DON'T WEIGH IN YOU KNOW OTHER
THAN OCCASIONALLY TO TRY TO
SLOW DOWN KEEP A CIVIL ACTION
FOR GETTING IN T