‘This is unacceptable’: AOC, Ted Cruz and others side with retail investors, slam Robinhood and Wall Street amid GameStop mania – By Ethan Wolff-Mann (Yahoo Finance) / January 28 2021
The battle between the financial establishment and small individual investors is heating up, and the situation is already becoming political — in some cases providing some interesting common ground.
The anger is bipartisan. Rep. Alexandria Ocasio-Cortez (D., N.Y.), Rep Ro Khanna (D., Calif.), Sen. Ted Cruz (R., Texas) and even Donald Trump Jr., eldest son of the former president, have all called out the situation as unfair for individual investors.
As Robinhood and other brokerages halted buying of Gamestop (GME), AMC (AMC) and other stocks Thursday, only allowing users to sell their positions, a wave of anger — and accusations of hypocrisy toward Robinhood — washed over parts of the trading community.
Hedge funds could buy and sell, but on many platforms, retail investors could only sell.
“This is unacceptable,” AOC tweeted on the news. “Fully agree,” Ted Cruz responded.
