This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/usa/514066-laura-unger-capitol-riot-robinhood/
The article has changed 4 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| 'If you don't have the police...things go a little crazy': Former SEC official compares GameStop buying frenzy to US Capitol riot | 'If you don't have the police...things go a little crazy': Former SEC official compares GameStop buying frenzy to US Capitol riot |
| (7 months later) | |
| Eyebrows were raised on social media after former US Securities and Exchange Commission (SEC) official Laura Unger made a “revealing” comment comparing the frantic buying of GameStop and other stocks to the US Capitol riot. | Eyebrows were raised on social media after former US Securities and Exchange Commission (SEC) official Laura Unger made a “revealing” comment comparing the frantic buying of GameStop and other stocks to the US Capitol riot. |
| Unger, who became a commissioner at the SEC in 1997 and was made acting chairman by George W. Bush for half of 2001, joined CNBC’s ‘Closing Bell’ on Thursday to give her thoughts on trading app Robinhood halting and then limiting the buying of stocks in companies such as GameStop and AMC, which saw significant boosts to their values after a buying frenzy by individuals motivated by a subreddit group this week. | Unger, who became a commissioner at the SEC in 1997 and was made acting chairman by George W. Bush for half of 2001, joined CNBC’s ‘Closing Bell’ on Thursday to give her thoughts on trading app Robinhood halting and then limiting the buying of stocks in companies such as GameStop and AMC, which saw significant boosts to their values after a buying frenzy by individuals motivated by a subreddit group this week. |
| The chaos in the marketplace, Unger claims, is “not unlike what we saw on January 6 at the Capitol,” referring to the storming of the Capitol by pro-Donald Trump supporters – a riot that led to five deaths, including that of a police officer. | The chaos in the marketplace, Unger claims, is “not unlike what we saw on January 6 at the Capitol,” referring to the storming of the Capitol by pro-Donald Trump supporters – a riot that led to five deaths, including that of a police officer. |
| “If you don’t have the police in there at the right time, things go a little crazy,” she said. She did acknowledge, however, that the happenings in the stock market were a kind of crazy of a “lesser degree” than the violence the country saw in Washington, DC earlier this month. | “If you don’t have the police in there at the right time, things go a little crazy,” she said. She did acknowledge, however, that the happenings in the stock market were a kind of crazy of a “lesser degree” than the violence the country saw in Washington, DC earlier this month. |
| It is, however, the same “platform-created frenzy that people are operating under,” she added, saying Wall Street was living through “trying times.” | It is, however, the same “platform-created frenzy that people are operating under,” she added, saying Wall Street was living through “trying times.” |
| According to Unger, the SEC could suspend trading on certain stocks and investigate whether specific market manipulation is happening through a concerted effort, or whether people have a legitimate interest in what they are buying. | According to Unger, the SEC could suspend trading on certain stocks and investigate whether specific market manipulation is happening through a concerted effort, or whether people have a legitimate interest in what they are buying. |
| 'The View' co-host Meghan McCain appeared to join in on the very same comparison as Unger in a quickly-deleted Friday tweet in which she said the "same thing that drove people to the Capitol is driving Redditors to buy GameStop." | 'The View' co-host Meghan McCain appeared to join in on the very same comparison as Unger in a quickly-deleted Friday tweet in which she said the "same thing that drove people to the Capitol is driving Redditors to buy GameStop." |
| The conservative pundit may have been a tad more sympathetic as, in her tweet, she admitted the "system is rigged" and "the little guy is trying to take back power in any way." | The conservative pundit may have been a tad more sympathetic as, in her tweet, she admitted the "system is rigged" and "the little guy is trying to take back power in any way." |
| In another tweet she decided to keep up, she left out the comparison to the US Capitol rioters but again slammed a "system" that "feels rigged." | In another tweet she decided to keep up, she left out the comparison to the US Capitol rioters but again slammed a "system" that "feels rigged." |
| While the buying frenzy has been described as market manipulation by Unger and other stock experts, the limiting of individuals in buying stocks by apps such as Robinhood has drawn the ire of many on both sides of the political aisle, from Sen. Ted Cruz (R-Texas) to Rep. Alexandria Ocasio-Cortez (D-New York). Critics have argued that halting individuals’ rights to buy stocks is an infringement of their rights to participate in what should be a free marketplace. | While the buying frenzy has been described as market manipulation by Unger and other stock experts, the limiting of individuals in buying stocks by apps such as Robinhood has drawn the ire of many on both sides of the political aisle, from Sen. Ted Cruz (R-Texas) to Rep. Alexandria Ocasio-Cortez (D-New York). Critics have argued that halting individuals’ rights to buy stocks is an infringement of their rights to participate in what should be a free marketplace. |
| Unger’s comparison of the stock fluctuations to a violent political rally has not found much support on social media, given the fact she’s comparing people using legal tools to purchase stock to people illegally entering a government building and causing chaos. | Unger’s comparison of the stock fluctuations to a violent political rally has not found much support on social media, given the fact she’s comparing people using legal tools to purchase stock to people illegally entering a government building and causing chaos. |
| “One of the most revealing 40-second video clips you’ll ever watch,” journalist Glenn Greenwald tweeted, sharing a clip of Unger speaking. | “One of the most revealing 40-second video clips you’ll ever watch,” journalist Glenn Greenwald tweeted, sharing a clip of Unger speaking. |
| If you like this story, share it with a friend! | If you like this story, share it with a friend! |
| Dear readers and commenters, | |
| We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
| Sorry for the inconvenience, and looking forward to your future comments, | |
| RT Team. |