There’s a Plot to Suck in More Retail Traders at the Top of a Bubble Market

Great post

Rigged Game

As Americans learned the hard way during the bust, there is already plenty of risk for the small investor in new stock issues. Now Wall Street wants to create more.

By Pam Martens and Russ Martens of Wall Street on Parade.

At both the March 9 Senate Banking Committee and March 17 House Financial Services Committee hearings on the conflicts with Robinhood and Citadel in trading small investors’ shares in GameStop and other meme stocks, the same witness was called by the Republican side of the Committees. His name is Michael Piwowar.

In Piwowar’s opening statements to both Committees, he introduced himself as the Executive Director of the think tank, the Milken Institute, and a former Commissioner at the Securities and Exchange Commission. He apparently supplied this same information to the Chairs of both Committees because that is also how Senate Banking Chair Sherrod Brown and House Financial…

View original post 186 more words

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.