Citadel CEO Ken Griffin on the current two day period to settle stock transactions (T + 2): We should push now for T +1 settlement. We will one day go to real-time settlements.@CNBC @citsecurities $GME
— Bob Pisani (@BobPisani) February 18, 2021
Tweet: Citadel Bribes Congress?
TweetIn 2020 Citadel affiliates donated $68 mill to political groups. Included was $37 mill to Senate Leadership Fund and $10 mill to Congressional Leadership Fund. #Robinhood #GameStop
— B.P. Rising (@BP_Rising) February 18, 2021
Article: Trading hot stocks like GameStop seems fun until you look beneath the surface
Article - MediaTrading hot stocks like GameStop seems fun until you look beneath the surface
Congress is asking questions about whether middlemen or “market makers” like Citadel that execute stock trades really give small investors the best prices.
Gretchen Morgenson, ABCNews, 18 February 2021
Market makers like Citadel make money by pocketing the difference between the price at which they buy shares — the bid — and the price they receive from selling them to Robinhood clients, the offer. Other firms in the business are Virtu Americas, G1X Execution Services and Two Sigma Securities.
Article: Watch Live: GameStop Hearing On Market Manipulation
Article - Media, PublicationsWatch Live: GameStop Hearing On Market Manipulation
Jonathan Ponciano, 18 February 2021
A Congressional hearing into the GameStop mania that triggered the largest weekly selloff since late October is underway, with some of the key players in the saga—billionaire Citadel CEO Kenneth Griffin, Robinhood CEO Vladimir Tenev, Reddit Cofounder Steve Huffman and the 34-year-old securities broker behind the Roaring Kitty online persona—all set to testify.
Committee Chair Maxine Waters (D-Mo.) kicked off the hearing by asking Tenev whether he misled investors on January 28 when he denied that Robinhood had a liquidity problem despite raising more than $3 billion in the following days to meet reserve requirements from the Securities & Exchange Commission. Continue reading “Article: Watch Live: GameStop Hearing On Market Manipulation”
Article: House Hearing On GameStop Fiasco Will Focus On “Short Selling And Stock Manipulation”
Article - Media, PublicationsHouse Hearing On GameStop Fiasco Will Focus On “Short Selling And Stock Manipulation”
Tyler Durden, Zero Hedge, 16 February 2021
In order to affect change, one has to understand the problem before them. It is by those standards we can confidently say we are near-certain that this week’s upcoming congressional hearings on the GameStop fiasco will be both a useless circus and a intellectual farce.
Article: Here’s what to expect at the congressional hearings on GameStop and Robinhood
Article - MediaHere’s what to expect at the congressional hearings on GameStop and Robinhood
Scum sucking sack of shit lawmakers will seek to make headlines, not legislation — and all the witnesses are probably RICO eligible!
Chris Matthews, MarketWatch, 16 February 2021
Executives at Robinhood, market maker Citadel Securities, hedge fund Melvin Capital, social media firm Reddit, and Keith Gill, an independent investor who found fame and riches with his early purchases of GameStop Inc. GME, -5.52% shares, will all testify at the hearing, scheduled for noon on Thursday. Here’s what to expect:
Article: Exposing The Robinhood Scam: Here’s How Much Citadel Paid To Robinhood To Buy Your Orders
Article - MediaExposing The Robinhood Scam: Here’s How Much Citadel Paid To Robinhood To Buy Your Orders
Tyler Durden, Zero Hedge, 14 February 2021
Frankly, we’ve had it with the constant stream of lies from Robinhood and neverending bullshit from the company’s CEO, Vlad Tenev.
With Tenev scheduled to testify on Thursday, alongside the CEOs of Citadel, Melvin Capital and Reddit, the apriori mea culpas have started to emerge – if a little too late – the former HFT trader spoke late on Friday on the All-In Podcast hosted by Chamath Palihapitiya, who had strongly criticized Robinhood over the trading restrictions, and Jason Calacanis, a Robinhood investor, and said that “no doubt we could have communicated this a little bit better to customers.”
David K. Lifschultz: New Forms of [Wall Street] Treason?
Letter
Max Keiser does not really understand what the monetary expansion has to cover.
You have according to the BIS 600 trillion in derivatives against a 81 trillion dollar world GDP or a multiple of 7. The BIS coordinates only the banks so this figure does not include insurance company derivatives or others in private industry unless a bank is connected to the transaction so it is grossly understated. Some Swiss bankers tell me it is more like 1.2 quadrillion and others up to 2.5 quadrillion. 1.2 quadrillion gives you a multiple on the world GDP of 14 and 2.5 quadrillion a multiple of 30.
Continue reading “David K. Lifschultz: New Forms of [Wall Street] Treason?”
Article: Short Squeeze Stockbrokers And Hedge Funds Face Proposed Antitrust Class Action
UncategorizedJoseph Saveri Law Firm | 21.02.02
On January 28, many brokerages abruptly and unilaterally restricted retail investors’ ability to buy long positions—in some cases removing the option to buy shares of the relevant securities while openly permitting them to sell their existing shares or prohibiting users from viewing the tickers for some or all of the relevant securities.
Hedge Funds are Getting Crushed by the Worst Short Squeeze in a Quarter Century
Article - MediaMatt Egan | 21.02.02
A mob of traders on Reddit’s WallStreetBets page have sent GameStop (GME), AMC (AMC) and other stocks skyrocketing in recent days. GameStop lost a quarter of its value Monday but it’s still up nearly 1,200% on the year. WallStreetBets successfully triggered an epic short squeeze, where investors that bet against GameStop have been forced to unwind their bets and buy the stock back. That in turn has driven GameStop even higher, creating even more losses for short-sellers.
Continue reading “Hedge Funds are Getting Crushed by the Worst Short Squeeze in a Quarter Century”
Article: Warren Seeks Answers From Robinhood Over Trading Limits
Article - Media, PublicationsTWarren Seeks Answers From Robinhood Over Trading Limits
Jon Hill, 02 February 2021
Sen. Elizabeth Warren, D-Mass., is calling on Robinhood to more thoroughly explain its decision last week to restrict trading in shares of GameStop and other companies amid a frenzy of retail investor activity, saying the move has raised questions about potential conflicts of interest facing the trading platform.
In a Tuesday letter to Robinhood CEO Vladimir Tenev, Warren described the trading restrictions as an “abrupt” rules change that not only risked hurting Robinhood’s retail investor customers but has also led to concerns about how the platform’s ties to hedge funds and other bigger Wall Street players may have influenced its decision-making. Continue reading “Article: Warren Seeks Answers From Robinhood Over Trading Limits”
Mirror: Marc Cohodes on GameStop, Melvin, Citadel, and the State of Short-Selling
Article: Billionaire Mets’ owner Steve Cohen and poster boy trader Dave Portnoy in fiery GameStop fight
Article - Media, PublicationsBillionaire Mets’ owner Steve Cohen and poster boy trader Dave Portnoy in fiery GameStop fight
Sarah Sharples, 29 January 2021
An online stoush has erupted between the billionaire owner of baseball team The Mets and a day-trading poster boy surrounding the GameStop stock controversy. The war of words started when day trader Dave Portnoy blasted Steve Cohen, the hedge fund billionaire and Mets owner, about restrictions on trading apps including Robinhood, which are used by amateur investors.
GameStop, a brick-and-mortar video retailer, has seen its stock skyrockets after Reddit renegades set out to prevent Wall Street “fat cats” from making huge profits from it. Continue reading “Article: Billionaire Mets’ owner Steve Cohen and poster boy trader Dave Portnoy in fiery GameStop fight”
Web: As The Country Burns, Citadel’s Founder Spends $100 Million On A Painting
WebAs The Country Burns, Citadel’s Founder Spends $100 Million On A Painting
ZeroHedge, 4 June 2020
While the country burns and millions of Americans scramble to figure out how they’re going to survive once supplemental unemployment benefits expire, Citadel founder Ken Griffin has just dropped a $100 million nut – nearly half the amount he dropped on a Central Park penthouse, and roughly equivalent to the cost of his wintertime Palm Beach Mansion – on a contemporary painting by American artist Jean Michel Basquiat, who died of a drug overdose in 1988.
Subject: Kenneth C. Griffin
Subject of Interest
Kenneth C. Griffin founded Citadel in 1990 and has since served as the firm’s Chief Executive Officer. He earned his bachelor’s degree from Harvard University. Griffin serves on the Board of Directors of the Chicago Public Education Fund, and the Board of Trustees for the Art Institute of Chicago, the Museum of Contemporary Art Chicago, the Whitney Museum of American Art, and The University of Chicago. He is also a member of numerous business organizations, including G100, the Civic Committee of the Commercial Club of Chicago, and the Economic Club of Chicago.
