Lawmakers of both parties want a reckoning for the finance industry after investors were locked out of trading GameStop

Lawmakers of both parties want a reckoning for the finance industry after investors were locked out of trading GameStop

Close icon Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification. Close icon Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification. Close icon Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification. Account active since Lawmakers of both parties are clamoring for scrutiny of the finance industry following Robinhood's decision to freeze ordinary traders out of a wild rush on GameStop stock. Both the Senate and House committees overseeing financial services, led by Sen. Sherrod Brown and Rep. Maxine Waters respectively, announced hearings on the workings of the stock market in the wake of the activity. Investors, coordinating on the Reddit board r/WallStreetBets, drove up the price of the ailing video-game retailer, forcing institutional investors who had bet against the stock with short positions to suffer huge losses. On Thursday, stock-trading app Robinhood blocked the ability to buy Gamestop stock, in a move that cut access for many regular investors “” but not Wall Street heavyweights, who could keep going. The Biden administration has pointedly stayed out of the