Congress Targets Stocks Mania as Ocasio-Cortez Rips Robinhood
- Lawmakers in House also slam actions behind market instability
- Progressives including Warren joined by Republicans on issue
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Two leading House and Senate committees pledged to hold hearings on the recent gyrations in the stock market as lawmakers voiced bipartisan outrage at platforms that curbed trades in companies like GameStop Corp. that were fueled by the social media site Reddit.
“People on Wall Street only care about the rules when they’re the ones getting hurt. American workers have known for years the Wall Street system is broken -- they’ve been paying the price,” incoming Senate Banking Chairman Sherrod Brown said in a statement. “It’s time for the SEC and Congress to make the economy work for everyone, not just Wall Street.”