A Senate panel will hold a hearing on the stock market amid an unprecedented wave of actions taken against investors, an incoming chairman said Thursday, as the White House defended Treasury Secretary Janet Yellen over her ties to Wall Street. Stocks like GameStop and AMC have exploded in growth in recent days, bolstered by a drove of investors talking them up on a Reddit subgroup. The investors saw Robinhood, an investment trading app, and other companies cutting them off from buying and selling some stocks, prompting fury and a class action lawsuit. As Republicans and Democrats united in condemning Robinhood’s action, incoming Senate Banking Chairman Sherrod Brown (D-Ohio) lambasted Wall Street and said the panel would hold a hearing. “People on Wall Street only care about the rules when they’re the ones getting hurt. It’s time for SEC and Congress to make the economy work for everyone,” he said in …
Senate to Hold Hearing on Stock Market as White House Defends Yellen Over Wall Street Ties
January 28, 2021
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