The GameStop hearing, hosted by the House Committee on Financial Services, is set for today.
The head of the panel, Rep. Maxine Waters, D-Calif., is setting her sights on hedge funds, which she says have a history of “predatory short-selling.”
“We must deal with the hedge funds whose unethical conduct directly led to the recent market volatility,” Waters said in a statement.
Meanwhile, Sen. Elizabeth Warren, D-Mass., wasn’t waiting to lash out at trading app Robinhood.
On Wednesday, Warren released a response she got, dated Feb. 12, from the firm after requesting more information in a letter on why it abruptly restricted trading last month in some of the most heavily shorted stocks jolting the retail and Reddit investor community.
“Robinhood’s response to my letter reveals that the company did not have enough cash on hand to manage a surge in trading and buried important information about consumers’ rights,” said Warren in a statement.
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The Associated Press contributed to this report