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Politics, Fact Check

Fact Check: Did Representative Maxine Waters ask about refunds for money lost on stocks?

Fact Check: Did Representative Maxine Waters ask about refunds for money lost on stocks?

2/23/2021 5:26:00 AM

Fact Check : Did Representative Maxine Waters ask about refunds for money lost on stocks?

On February 18, the House Committee on Financial Services held a hearing on the events surrounding the GameStop trading frenzy that took place in late January.

The FactsDuring the hearing, which lasted more than five hours, Waters' questions were directed at Tenev and Griffin, and included topics such as Robinhood's liquidity, a previous dispute between Robinhood and the Securities and Exchange Commission, and the significance of Citadel's role in the market.

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At no point did Waters inquire about the possibility of refunds for money lost in the stock market. In Waters opening statement, she said the focus of the hearing would be to determine how the witnesses contributed to"the market volatility surrounding GameStop and other stocks." She said,"Many Americans feel that the [trading] system is stacked against them and, no matter what, Wall Street always wins."

Read more: Newsweek »

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