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New outside firms for Wells Fargo, Ally Financial

New outside firms for Wells Fargo, Ally Financial
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Janet Yellen got $810,000 to give speeches to Citadel, a key firm in the GameStop mess.


OK, so a group of individual investors collaborated via a Reddit message board to drive up the price of stock issued by the video game retailer GameStop. They did so in part because they were aware that a number of hedge funds had “shorted” GameStop, essentially betting that the company’s stock price would fall. Hit hard when it rose instead, one such fund, Melvin Capital, got an emergency backstop investment from another, Citadel LLC.
And then, on another track, there’s an app called Robinhood, which carries out trades on behalf of individual investors, including many of those who’ve been driving the surge in GameStop’s price. Robinhood carries out those trades by routing them to ....

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