At a closely watched hearing before the Financial Services Committee, Robinhood’s Vlad Tenev and Citadel’s Ken Griffin took fire on issues ranging from trading halts provoked by capital shortfalls to whether “free trades” are really free. At times, the chief executives’ long responses were cut off and met with derision. They were both adamant that their businesses have helped small-time investors access markets that were long the domain of Wall Street. “You are doing a great job of wasting my time,” Representative Brad
Gamestop mania: Robinhood, Citadel spar with lawmakers over retail trading
The exchange elicited a mea culpa from Tenev, who admitted the brokerage fell short of meeting its customers' needs
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The hearing shed little light on the confluence of events that gripped Wall Street and Washington last month
At a closely watched hearing before the Financial Services Committee, Robinhood’s Vlad Tenev and Citadel’s Ken Griffin took fire on issues ranging from trading halts provoked by capital shortfalls to whether “free trades” are really free. At times, the chief executives’ long responses were cut off and met with derision. They were both adamant that their businesses have helped small-time investors access markets that were long the domain of Wall Street. “You are doing a great job of wasting my time,” Representative Brad
Topics : US markets Wall Street lawmakers
First Published: Feb 20 2021 | 02:02 AM IST
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