Rep. Alexandria Ocasio-Cortez of New York called the stock-trading platform Robinhood’s blocking purchases of GameStop stock ” unacceptable ” and called for the House Financial Services Committee to investigate if necessary.

The trading platforms Robinhood, Ameritrade, and Fidelity have halted users from purchasing shares of certain companies that Reddit users have been buying up.

Through January, investors and members of the popular Reddit forum Wall Street Bets – which has more than 2 million members – have helped to push up shares of GameStop, AMC, Nokia, and BlackBerry. Major hedge funds had been heavily shorting, or betting against , those stocks.

The Redditors making the trades have brought in big money for themselves and caused headaches for the hedge funds that shorted GameStop shares. But critics have accused the traders of manipulating the market and creating a bubble that’s bound to burst.

Alexandria Ocasio-Cortez (@AOC) January 28, 2021

“Inquiries into freezes should not be limited solely to Robinhood,” Ocasio-Cortez added. “This is a serious matter. Committee investigators should examine any retail services freezing stock purchases in the course of potential investigations – especially those allowing sales, but freezing purchases.”

Figures around the financial world and across the political spectrum have sharply criticized the trading platforms’ move to block purchases . Other critics include Barstool Sports founder Dave Portnoy , Donald Trump Jr. , and Republican Sen. Ted Cruz , who responded to Ocasio-Cortez’s tweet, “Fully agree.”

Ocasio-Cortez shot back at Cruz in a follow-up tweet that referred to the insurrection at the Capitol on January 6.

“I am happy to work with Republicans on this issue where there’s common ground, but you almost had me murdered 3 weeks ago so you can sit this one out,” she wrote . “Happy to work w/ almost any other GOP that aren’t trying to get me killed. In the meantime if you want to help, you can resign.”

Two of Ocasio-Cortez’s progressive Democratic colleagues, Reps. Rashida Tlaib of Michigan and Ro Khanna of California, who represents Silicon Valley, got behind her call for House hearings over the matter.

“We need an investigation into RobinhoodApp’s decision and who influenced that,” Khanna tweeted . “And this shows the need for a financial transaction tax on hedge fund shorting and SEC regulations on short selling practices.”

On Wednesday, Ocasio-Cortez and Sen. Elizabeth Warren – a leading expert on consumer-protection law who has long advocated stricter restrictions on the financial industry and Wall Street – accused Wall Street critics of the Reddit traders of hypocrisy .

“Gotta admit it’s really something to see Wall Streeters with a long history of treating our economy as a casino complain about a message board of posters also treating the market as a casino,” Ocasio-Cortez tweeted on Wednesday.

Warren argued that “for years, the same hedge funds, private equity firms, and wealthy investors dismayed by the GameStop trades have treated the stock market like their own personal casino while everyone else pays the price.” She called on regulators to “wake up and do their jobs.”

Culled from https://markets.businessinsider.com/

______________________________________________________________________ “Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence

Interested buyers are encouraged to place their orders and enquiries via: 0704 444 4777, 0704 444 4999, 0818 199 9888 Website: www.alexandernigeria.com

_______________________________________________________________________ [A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
“Evidence Act: Complete Annotation” by renowned legal experts Sanni & Etti.
Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation _______________________________________________________________________

“Order Justice Omolaye-Ajileye’s Electronic Evidence Books Now” — Essential Guides On Evidence Act, Case Law And Digital Proof

Two leading books on electronic evidence by Hon. Justice Professor Alaba Omolaye-Ajileye, Rtd., PhD, FICMC, are now available for purchase. The publications, Electronic Evidence (Second Edition), With The Evidence Act, 2011 and Compendium Of Cases On Electronic Evidence, Volume II, 2020–2025, provide practical guidance, legal analysis and recent judicial authorities on electronic evidence in Nigeria.Order directly from the author here: https://velvety-cendol-7387ed.netlify.app/ _______________________________________________________________________ Groundbreaking Guide For Lawyers: Adigwe Publishes ‘Artificial Intelligence For Lawyers’ With Free Research eBook The book also examines Nigeria's legal ecosystem, focusing on the LPELR and NBA AI Guidelines. As a bonus, every purchase comes with a FREE eBook titled: How to Use the AI Features in LegalPedia and LawPavilion. Ohio Books Ltd praises the publication, stating: "....this is the only Nigerian book I know of on the topic." How to Order: 📞 Call, Text, or WhatsApp: 08034917063 | 07055285878 📧 Email: benadigwe1@gmail.com 🌎 Website: www.benadigwe.com Ebook Version: Access it directly online at https://selar.com/prv626 Authored by Ben Ijeoma Adigwe Esq., ACIarb (UK), LL.M, Dip. in Artificial Intelligence, Director at the Delta State Ministry of Justice, Asaba, Nigeria. _______________________________________________________________________