That are being organized on facebook and read it buying the stock, bidding it up, causing those institutions to lose money here. Talking to the tune of billions of dollars over the past week or so for the sec, Securities Exchange commission is watching this and a sec regulator told me you might be hard for them to find a violation. Listen. I think when it comes to regulating the speech or regulating content, thats a huge challenge and certainly from a securities regulation perspective. I dont think the sec can regulate speech which everyone has the right to regulate in the sense charging a crime for doing it. What has lawmakers concerned is that robin hood is billed as a free Trading Platform had actually stopped or halted trades on gamestop and some of these others that were shorted which allowed the institutions to make back some of their money in those shorts yesterday. If robin hood said it needed the pause to collect collateral for its clearing house. They raised A Billion Dollars
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
Morning for all of these lawmakers. Bring us up to speed on whats going on now and what it means for americans who need help in the pandemic. Reporter i thought when i woke up this morning i thought it would be over and its still going on. Voterama is still going on. Marathon session to try to pass amendments for budget reconciliation. First step that needs to happen so that they can pascoe individual 19 relief without any support. Now the senate doesnt do this very often. It shows how important it is. There was one amendment that all senators agreed on except for rand paul. Targeted stimulus checks for the next round of covid19 relief. This comes as 10 senators were clear with biden they want to continue this dialogue. They want to continue talking about covid19 relief. They have concerns about his 1. 9 trillion package. They want something smaller. They want something more targeted. They sent a letter to him hoping to continue that conversation, but janet yellen has been clear, she s
This. Republican leader Kevin Mccarthy made the claim overnight he doesnt even know what the Conspiracy Group qanon is. He might want to check the tape from january 6th. Some of them invaded his office. Or do a oneminute google search. Meanwhile, liz cheney got an earful from her gop colleagues but she survived an attempt to remove her from leadership because she dared to vote former President Trump for inciting that deadly insurrection. The final vote was 14561. And it was conducted in a Secret Ballot, meaning the republicans who stood behind her can remain anonymous. Joining me now is republican congressman Adam Kinzinger, an outspoken supporter of liz cheney. Outspoken in the suggestion that Marjorie Taylor greene should lose her Committee Posts. Congressman kinzinger, thanks for being with us. You had a heck of a night last night. How would you describe what happened . So, i want to put this up front. I dont reveal details from conference because but what ill tell you last night wa
Today in the broader house regarding Marjorie Taylor greene . Democrats have the majority. We have at least one republican saying theyre vote to remove. So it seems Fait Accompli for her. Reporter this is something hardly ever done. The house taking action to strip a member of an opposing partys Committee Assignments. That is something that could create a precedent that future majorities could certainly replicate. But the democrats say they have to move forward now because of the dangerous views that Marjorie Taylor greene has expressed over her last couple of years, whether it is about the massacres at the Parkland High School in florida, or if it is about the promoting the qanon conspiracy theory. They say there is no room on congressional committees for her and it is time for the house to act. And that is exactly what they will do this afternoon. A simple majority will vote to remove her from the House Budget Committee and the house education committee. Now this came after the repub