Thursday, February 18, 2021 11:40 AM EST
The elephant in the room is GameStop (GME) today. The House Financial Services Committee will be holding a hearing today at noon (EST) to discuss the events surrounding GME’s stunning rise and fall in late January. Like many in our industry, I expect to be riveted by the hearing. Also like many, I hope that the questions will be focused more upon crafting intelligent regulation rather than assigning blame and airing grievances. There should be no shortage of interesting facts and opinions offered, but by failing to invite anyone from DTCC, I fear that they will miss hearing from perhaps the most important, but an unsung actor in the drama. The financial sector as a whole may have been threatened when the clearinghouses came under stress. I would certainly like more clarity on that topic.
Here are some quick thoughts of mine on topics that are likely to be raised:
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Disclosure: MARGIN TRADING
Trading on margin is only for sophisticated investors with high risk tolerance. You may lose more than your initial investment.
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