Jack Kelly | 21.02.02
In a blistering interview with CNN, Senator Elizabeth Warren was incensed over the trading activities last week, saying the market “is a rigged game.” Warren boldly called out the Securities and Exchange Commission (SEC), the premiere Wall Street regulator, admonishing the agency “to grow a backbone” and “get off their duffs and do their jobs.”
Warren said, “We need more regulation about market manipulation.” She also decried the practices of “pump and dumps” and stock buybacks that enrich the CEOs and executives. The senator added, “The SEC needs a broader look at how hedge funds and corporations manipulate the market.”
With stocks soaring while millions are out of work and struggling to pay bills, it’s not news that the stock market doesn't reflect our actual economy. https://t.co/MeYHM8b8Cw
— Elizabeth Warren (@SenWarren) January 27, 2021
Casino-like swings in stock prices of GameStop reflect wild levels of speculation that don’t help GameStop’s workers or customers and could lead to market instability. Today I told the SEC to explain what exactly it's doing to prevent market manipulation. https://t.co/NWaZe1jFVb pic.twitter.com/MAbjHcq47i
— Elizabeth Warren (@SenWarren) January 29, 2021
