Acknowledges like robinhood yesterday restricted trading in gamestop and other volatile stocks. Robinhood eased up on those restrictions today but the backlash has been fierce. Here is reaction from conservative radio host Rush Limbaugh and bar stool sports Founder David portnoy. Its not just political now. The elites are Bent Out Of Shape that a bunch of average, ordinary users have figured out how to make themselves billionaires. Everything is rigged in favor of the elites. This has upset the rigging. I think its criminal. There has to be an investigation and people have to go to jail. Whether that actually happens i dont know. But ive never been more convinced about Market Manipulation and the people, the hedge funds controlling the game. Harris robinhood ceo is defending the decision. Watch. We had to make a very difficult decision to protect our customers and our firm. This decision was not made on the direction of any market maker. We are in a historic situation there is a lot of
Level as the controversy continues. President biden met with his Economic Team at the white house today, the administration has not yet said much on the controversy only saying talk to the sec and the feds are monitoring the situation. Strong backlash by some lawmakers including alexandria ocasiocortez and republican ted cruz. Republican senator josh hawley talked about this on fox news earlier. What youve seen with this gamestop meltdown that wall street is having now is these folks at home have got more criticism and more scrutiny than the people who singlehandedly crash the entire Financial Market in 2008. And they got bailed out, the government bailed out those people. It shows you that the fix is in. John White House Correspondent Kristin Fisher picks up reporting for us on this friday live on the north lawn. For the third day in a row, the white house is declining to weigh in on this controversy that has consumed both wall street and main street. The White House Press secretary w
About how trading does and should work. Stocks were significantly up today after the biggest selloff in three months wednesday. The dow surging 300. S p 500 up 37. Nasdaq gained 67. Lets find out what this means for you and your money. The story of gamestop is a story about Institutional Investors versus a lot of little guys all making similar trades. Kristina partsinevelos of fox business joins us from new york. Good evening. Good evening. Its a rebellion between the Retail Investors and wall street. Its got a lot of people worried. Congress, sec, treasury secretary janet yellen. They are going to be monitoring the stock swings as well as trade restrictions. You have Companies Like gamestop that are used as a weapon. You have large, big hedge funds that noticed things werent going so well with gamestop. People werent going to stores to buy a lot of these video games so the big hedge funds shorted the stock. They bet the stocks would fall. Smaller retail guys banded together in online
Now theres just got to be a will to seek those out. True on school funding, true on state and local aid. Everyones getting tied around in knots what the number is. Get the policy right and whatever that number produces, thats where we should land. Look, i mean, christine, certainly there could be an incorporation of republican ideas, and there are a lot of people arguing for that. But what is unclear, if the votes, if the republican vote it might actually be more than unclear if the republican votes would actually follow those compromises . Also, theres even moderate democrats who might be concerned about sliding in a 15 hour minimum wage and you saw maneuvering last night suggesting they could put the 15 minimum an hour wage to the side not address it now. Could be confrontational. Could be a place of bipartisan agreement right now during the middle of the crisis. Even though progressives, of course, want a 15 minimum wage. Might see small maneuvering starting to satisfy people and mo
Mccarthy warns democrats the tide may turn against you in the future. You will regret this. You may regret this a lot sooner than you think. If thats the new standard, if people are held to what they have said prior to even being in this house, if the majority gets to decide who sits on other committees, i hope you keep that standard because we have a long list you can work within your own. Harris sooner than you think, he says. Also in focus this hour claims of hypocrisy against a major book publisher, rnc chairwoman Ronna Mcdaniel reacts. A new battle over whether taxpayers should be on the hook for 650 billion in student loan debt. Steve forbes will weigh in. First lets bring in florida congressman matt gaetz of the House Judiciary Committee to talk about our top story. I understand you did not vote with those 11 republicans to remove Marjorie Taylor greene from her committees, why . It wasnt an attack on Marjorie Taylor greene it was attack on the voerts. She got more votes than i