Robinhood's CEO 'to be hauled before Congress to testify on GameStop trades' after Maxine Waters' pledge to investigate company amid allegations it was in the tank for hedge funds . As a first step in reining in these abusive practices, I will convene a hearing to examine the recent activity around GameStop (GME) stock and other impacted stocks with a focus on short selling, online trading platforms, gamification and their systemic impact on our capital markets and retail investors. No Name LOGIN UPGRADE PLAN SUBSCRIBE NOW. Donald Trump Jr mocks Maxine Waters after stock market comments over GameStop controversy: 'Downright insane' 'This is someone who is literally supposed to make trillion-dollar financial decisions for us and it is clear she has no idea what she is even talking about,' Don Jr said in a video By Pooja Salvi Published on : 03:00 PST, Feb 22, 2021. Robinhood Chief Executive Vlad Tenev is expected to testify before a House committee following the GameStop stock controversy last week. American News Feb 19, 2021 9:38 PM EST. Private funds engaging in predatory short selling to the detriment of other investors must be stopped. Private funds preying on the pension funds of hard working Americans must be stopped. Private funds engaging in vulture strategies that hurt workers must be stopped. Rep Patrick McHenry argued that … Lv 7. Have a tip or story idea? The GameStop hearing, hosted by the House Committee on Financial Services conlcuded after more than five hours on Thursday. The increase was caused mostly by retail investors using Robinhood, but the company briefly prohibited users from purchasing the affected stocks, an issue that Tenev attributed to regulatory requirements requiring the company to hold greater capital during period of volatility. Maxine Waters Grilled Terrified-Looking CEOs During The Reddit-GameStop Congressional Hearings: ‘Just Answer Yes Or No’ Ryan Nagelhout Twitter Contributing Writer February 18, 2021 4 Answers. He proceeded with his description of his background, telling the committee that he had been born in Bulgaria. Anthony Brian Logan – House Financial Services Committee chair Maxine Waters has set her sights on the Reddit community WallStreetBets amid the Gamestop stock fiasco. Have a tip we should know? Waters, … Copy to Clipboard. 0. [email protected]. Private funds preying on the pension funds of hard working Americans must be stopped. Tenev used the first 30 seconds of his opening remarks to describe his background, prompting Waters to interject. Maxine Waters pledges to dig into potential conflicts Watch: Tusk Ventures Co-founder and CEO Bradley Tusk discusses his key takeaways from the … Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following statement regarding recent market instability. Reps. “Excuse me, you are not recognized,” Waters replied, before allowing Tenev to continue. | Kevin Dietsch, Pool/Getty Images By VICTORIA GUIDA and KELLIE MEJDRICH 02/18/2021 06:31 PM EST Rep Maxine Waters interrupted during his opening statement and demanded that he directly address the events around the GameStop debacle . The committee’s ranking member, Rep. Patrick McHenry (R-NC), attempted to intervene, saying, “Madam chair, the witness has the opportunity to give their own testimony.”. The GameStop drama “has put a maximum spotlight on institutional practices by Wall Street firms” and potential conflicts of interest, Rep. Maxine Waters, D-Calif., the head of the Financial Services Committee, said at the start of the hearing. Donald Trump Jr. slammed Rep. Maxine Waters (D-CA) for her fundamental lack of understanding of how the stock market works in relation to the recent GameStop/Reddit saga. Robinhood Markets, GameStop Corp. and hedge funds are all on the wish list that House Financial Services Committee Chair Maxine Waters is assembling for a … "I want absolutely to have Robinhood here. Taking to Rumble, Donald Trump Jr. mocked Rep. Maxine Waters over her mocked stock market comments. Why does Maxine Waters think that investors that lose money should get a refund? Email us. "Short selling hurts companies, obviously; it hurts its investors, its employees, ultimately it hurts our country itself.” Like most political statements today, this is a mere assertion with no basis in fact. The fact that Treasury Secretary Janet Yellen, Speaker of the House Nancy Pelosi, and California House Representative Maxine Waters (D-CRAY) would have anything to say about what is happening in this matter is akin to the foxes having a say on what goes on in the hen house. 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By Rudy Takala Feb 18th, 2021, 2:14 pm … Rep. Maxine Waters interrupts Robinhood CEO Vlad Tenev's opening statement to insist he address the events of January 28. The hearing was led by Representative Maxine Waters (D-Calif.), chair of the Financial Services Committee.Vlad Tenev, WATCH: Donald Trump Jr. slams Maxine Waters for her failure to understand how the stock market works. House Financial Services Committee Chair Rep. Maxine Waters. Or to keep it anonymous, click here. House Financial Services Committee chair Maxine Waters has set her sights on the Reddit community WallStreetBets amid the Gamestop stock fiasco. Waters headed up a full-on hearing in the House in which several key players from the Gamestop situation were pressed in an interrogation fashion. “Hedge funds have a long history of predatory conduct and that conduct is entirely indefensible. Image source: House Financial Services Committee. Watch above via the House Financial Services Committee. Waters headed up a full-on hearing in the House, in which several key players from the Gamestop situation were pressed in an interrogation fashion. The hearing centered on trading in January that caused stock prices to surge for companies including GameStop and AMC Theaters. “Addressing that predatory and manipulative conduct is the responsibility of lawmakers and securities regulators who are charged with protecting investors and ensuring that our capital markets are fair, orderly, and efficient. Relevance. Yet, here we are. “Mr. Maxine Waters, the Democrat chair of the committee, insisted Tenev answer ‘yes or ‘no’ to a series of convoluted questions that required some explaining, and in the end she cut off answers because of the time rather than allowing anyone to explain themselves in full. Answer Save. … Waters took heat from conservatives who accused her of having a fundamental lack of understanding of how financial markets work after she commented on the GameStop / … “Hedge funds have a long history of predatory conduct and that conduct is entirely indefensible. The hearing has not been formally announced, but chairwoman Maxine Waters … “We must deal with the hedge funds whose unethical conduct directly led to the recent market volatility and we must examine the market in general and how it has been manipulated by hedge funds and their financial partners to benefit themselves while others pay the price.”, U.S. House Committee on Financial Services, Subcommittee on Investor Protection, Entrepreneurship, & Capital Markets, Subcommittee on Consumer Protection and Financial Institutions, Subcommittee on Housing, Community Development and Insurance, Subcommittee on National Security, International Development and Monetary Policy, Subcommittee on Oversight and Investigations, Waters, Brown Announce Hearings with Major Bank CEOs, Waters at Infrastructure Hearing: We Have Momentum for Serious, Equitable Investments in Our Housing System, Waters at Hearing with Yellen and Powell: We Must Ensure That There is a Sustained and Equitable Recovery, Waters at Second Hearing on Ongoing Market Volatility: The Committee Must Assess Legislative Next Steps. Before being put in charge of America’s pocketbooks, Yellen was raking in over $800,000 in … Thursday’s hearing of the House Financial Services Committee kicked off with flare as its chair, Rep. Maxine Waters (D-CA) interrupted Robinhood CEO Vlad Tenev to ask that he “limited” time to “speak directly.”. Congresswoman Maxine Waters plans to thoroughly investigate the GameStop trading frenzy by holding multiple hearings on the matter. (The Post Millennial) – Donald Trump Jr. slammed Rep. Maxine Waters (D-CA) for her fundamental lack of understanding of how the stock market works in relation to the recent GameStop/Reddit saga. Rep. Maxine Waters said she wanted Keith Gill, a user on the Wall Street Bets subreddit, at a hearing. House Financial Services Committee chair Maxine Waters has set her sights on the Reddit community WallStreetBets amid the Gamestop stock fiasco. u_bin_called . Waters, McHenry Will Hold GameStop Hearing After They Took Max Contribution from Robinhood CEO By Rudy Takala Jan 30th, 2021, 1:21 pm Mandel Ngan, Getty Images The House Committee on Financial Services held a hearing on February 18 about the events surrounding the GameStop trading frenzy that took place in late January. Tenev, I would like you to use your limited time to talk directly to what happened on January 28, and your involvement in it,” she  demanded. “Apparently stocks only go up according to [Waters],” tweeted Trump, linking his recorded commentary. Rep. Maxine Waters listens to testimony during a hearing on Capitol Hill on July 31, 2020. Favorite Answer. Tenev will be interrogated by lawmakers during a hearing before the House Financial Services Committee on Feb. 18, Politico reports, citing unnamed insiders familiar with the matter. “This woman makes multi trillion dollar decisions for the American […] (CNN) — Congresswoman Maxine Waters plans to thoroughly investigate the GameStop trading frenzy by holding multiple hearings on the matter. That Escalated Quickly: Maxine Waters Interrupts Robinhood CEO in GameStop Hearing — During His Opening Remarks. A tale that grows in the telling . Maxine Waters lives in a multi-million dollar home miles outside the urban district she represents.....here's a hint, the name on her deed isn't her own...but a conglomerate of investment capital groups... 2 0. Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, made the following statement regarding recent market instability. 2 months ago. The head of the panel, Rep. 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