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Posted on 10/2/22 at 3:41 pm to Chucktown_Badger
quote:
Hot did they interject?
quote:
On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation.[164] Yellen convened a meeting of financial regulators, including the heads of the U.S. Securities and Exchange Commission, Federal Reserve, Federal Reserve Bank of New York and the Commodity Futures Trading Commission, to discuss the volatility surrounding the short squeeze. Because Yellen had received speaking fees from Citadel before becoming treasury secretary, she sought and received permission from Treasury Department ethics lawyers before convening the meeting.[165][166] The regulators were not seen as likely to view the volatility as creating any systemic risks.[167] Speaker of the House Nancy Pelosi said that Congress would also be reviewing it.[168] Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze.[169] Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".[170] On January 29, 2021, the U.S. Securities and Exchange Commission announced it was reviewing the incident with the aims "to protect retail investors"[171] from "abusive or manipulative trading activity"[172] and "to identify and pursue potential wrongdoing".[173]
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