wallstreetbets, what s the story to you? marie i think the story is about a group of idiots. a very large group of idiots. who just got fed up with the world. got fed up with being told go to college, get a job, make a living. frankly, that s not just realistic for our generation. it is really frustrating, the rumors. i think we re lazy. you know the term, pull up your boot straps and work hard? you get the same life as they had? no! the world is very, very different he stays. next pandemic in 2025 my wipe us all out anyways. i don t have time to wait for retirement. you ve got to will it into existence. life is just not fair. the world is a harsh place, and a stock market was just the purest form of yolo. this is populism coming for capitalism for gamestop. on surface, i could be pretty scattered. in the water, though, it s calming for me. you are seeing out of a little hole and everything is quiet. you hear bubbles, you hear breathing. you just hear the water around you
who just got fed upwith the world, got fedup with being told go to college,get a job, make a living. you know,it is really frustrating. the boomers,they think we re lazy. you know the whole term, pull up your bootstrapsand work hard and you get the same lifethat they had? no. the world is very,very different these days. hell, the next pandemicin 2025 might wipe us all out anyways. i ain t got timeto wait for retirement. you got to will itinto existence. life s just not fair.the world is a harsh place and the stock market was justthe purest form of yolo. [music playing] reporter: stocks up againthis morning, 12%. short sellerscontinue to get hurt by the thread wallstreetbets and other retail [interposing voices] reporter: all this whiningby wall street, it s making me sick. reporter: this is populismcoming for capitalism. gamestop. matt kelly: on surface,i can be pretty scattered. in the water, though,it s calming for me, because you re seeing out ofa little hole, right, and
what s the story to you? - [sighs] i think the story is abouta group of idiots, a very large group of idiots, who just got fed upwith the world, got fedup with being told go to college,get a job, make a living. frankly,that s just not realistic for our generation. you know,it is really frustrating. the boomers,they think we re lazy. you know the whole term, pull up your bootstrapsand work hard and you get the same lifethat they had? no. the world is very,very different these days. hell, the next pandemicin 2025 might wipe us all out anyways. i ain t got timeto wait for retirement. you got to will itinto existence. life s just not fair.the world is a harsh place and the stock market was justthe purest form of yolo. [music playing] reporter: stocks up againthis morning, 12%. short sellerscontinue to get hurt by the thread wallstreetbets and other retail [interposing voices] reporter: all this whiningby wall street, it s making me sick. reporter: this is populismcoming for capi
they re trying to weaselout of something. - i understand that partof the focus of this hearing is the decisionof stock trading platforms to limit tradinggamestop. i want to make clearat the outset that melvin capitalplayed absolutely no role in those tradingplatform decisions. - they re not being honestand truthful about this. - i want to beperfectly clear. citadel securities had no rolein robinhood s decision to limit trading in gamestop. - so citadel is a realconglomerate. they have a hedge fund.they have a broker. and they have a marketmaker. - mr. griffin, why is this not consideredmanipulating a stock whenever you can shortsell to 140%? don t youthink there should be a limit on something like that? ken griffin:i m not sure it s worth us delvinginto legislative corrections for a very unique situation, in terms of the extremesize of the short interest. - why is it that a stockcan be shorted over 100%? i don t even knowhow you re allowed to do that. congressman: mr. plotkin, you made
retail investors calais. vlad, tentative can griffin, and melvin kept capital ceo clock in, and keith gill. you know the lawmakers are furious, and i want to have hearings about this? the problem is going to most likely be, that the system is designed terribly, the system gets abused, and it they need to make changes. first of all, to me, this was a whole dog and pony show. first, robinhood securities put the restrictions in place in an effort to meet increased regulatory deposit requirements, not to help hedge funds. you can see the way they re trying to weasel out of something. i understand it s part of the focus of the hearing is the decision of stock trading platforms to stop trading gamestop. i ll make clear on the exit that melvin capital played no role in this. they re not being honest and truthful about this. i want to be perfectly clear. citadel securities had no role in robinhood s decision to limit trading in gamestop.