Cutting Through the Clutter: GameStop
Hearing, Fact Sheets and Committee Letters
The frenzied trading in some stocks, like GameStop and Bed Bath & Beyond, pierced the public consciousness this month, resulting in lots of media coverage, a hearing on the Hill and even the White House press secretary fielding questions about it. These events have raised critical questions about the fairness of our markets, the treatment of retail investors, the gamification of trading, the role of certain trading strategies, conflicts of interest, interconnectedness, and many related issues.
While some of these are new to the public, Better Markets has been working on them for many years, usually without the accompanying headlines. Because of our expertise, we have been in the forefront of explaining them now to regulators, legislators, policymakers and the media. To help inform the conversation, Better Markets developed various materials on these important issues. These include:
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Congressional Hearing Materials: In advance of the hearing on February 18 before the House Committee on Financial Services, Better Markets sent a letter to Chairwoman Maxine Waters detailing the key issues to be addressed and then released a post-hearing Fact Sheet reviewing the highlights of the hearing. We also released a short video of some of the key highlights of the hearing featuring Chair Maxine Waters, AOC, Jim Himes, Ritchie Torres, Al Green, Cindy Axne, Rashida Tlaib, Jesus “Chuy” Garcia and more.
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Fact sheet on the key issues raised by Robinhood, Reddit, Citadel, GameStop and rigged markets.
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Letter sent to Treasury Secretary Janet Yellen and other financial regulators who met to review and address the issues raised by the frenzied trading in GameStop and other equities.
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Issue- and Firm-Specific Fact Sheets:
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Citadel fact sheet: information on who Citadel is and its key role in the GameStop saga and the markets more broadly; and
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Consolidated audit trail (CAT) fact sheet: information on what CAT is and why it is so important to protect investors and markets.
- Everything You Need to Know about the House Financial Services Committee Hearing on GameStop, Robinhood, Citadel, Reddit, Roaring Kitty & Rigged Markets, a webpage that features Better Markets’ resources on the GameStop issue in one place.
