Treasury Secretary Janet Yellen will meet with SEC, Federal Reserve, and CFTC officials regarding the Reddit-trader craze.Regulators haven't yet said they'll take action in the matter but indicated they're examining the phenomenon.Treasury Secretary Janet Yellen plans to meet with several finance-industry regulators to examine the intense market volatility spurred last week by retail investors piling into GameStop and other highly shorted stocks.
The news signals officials at the highest level of market regulation are at least examining the retail-trader phenomenon that roiled the finance industry throughout last month. Yellen received authorization from ethics lawyers to look into the matter before convening the meeting, Reuters reported. The Treasury Secretary received more than $700,000 in speaking fees from market-maker Citadel. The financial firm executed many of the trades that sent GameStop and other stocks skyrocketing last month.The GameStop mania driven by Reddit traders isn't simple market trolling.
targeted by the retail-investor crowd. Republicans and Democrats in Congress moved for regulators to look into the policy, saying it hindered investors' access to a free market.
Which means she isn't going to discuss the securities fraud that is happening or the fact they are pushing 20m imaginary stocks around.
Janet will be yellin’ at those regulators! 😋
It’s a flood. Hedge funds and large LPs have been implementing this methodology for decades. Now the tables have turned.
Market manipulation is having a central bank extend credit to bankrupt governments and companies rather than allowing market forces to occur naturally. She is the queen manipulator but thankfully the currency that gives tyrants like her their power is going to collapse.