Congressman Donalds' Statement Calling on an Immediate Investigation into Citadel, LLC, and Robinhood
Washington, January 28, 2021
"Congress has a moral and legal obligation to ensure our financial institutions act appropriately and ensure the playing field is reasonably accessible for Wall Street and Main Street."
WASHINGTON––Today, Congressman Byron Donalds (R-FL) joins a growing bipartisan group calling for an immediate investigation into Citadel, LLC., and Robinhood following the alleged predatory and manipulative conduct that resulted in massive market instability.
“American ingenuity and innovation have given the average citizen access to online trading platforms allowing interested parties access to a free-market economy with hopes to enhance their financial well-being. The recent alleged unethical and predatory actions exhibited by Citadel, LLC., and Robinhood that led to detrimental market instability and widespread consequential financial hardship on many investors requires an immediate investigation by the House Committee on Financial Services.”
“Congress must examine the recent activity concerning GameStop (GME), AMC Entertainment (AMC), Nokia Telecommunications company (NOK), and other impacted stocks that were directly affected by the actions of certain hedge funds. Private investors deserve to know Wall Street and hedge funds are not engaged in malicious behavior when the pendulum swings in favor of private investors, not corporate cronies. Congress has a moral and legal obligation to ensure our financial institutions act appropriately and ensure the playing field is reasonably accessible for Wall Street and Main Street."