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Janet Yellen received $800K from hedge fund at center of GameStop debate - YouTube
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[Music]
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and tonight we continue
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to follow the ongoing david versus
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goliath brawl
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that's broken out on wall street tonight
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as a group of small
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small-time main street traders taking on
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the big
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hedge fund goliath who got caught in a
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massive
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what they do is they short stocks and a
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short squeeze
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and they lost billions after retail
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investors they banded together to buy
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stocks like gamestop
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amc blackberry and others now how's the
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establishment responding
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to getting beaten by the little guy well
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they've been freezing trades on apps
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like robin hood and even censoring
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online message boards
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and get this we're now learning tonight
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treasury secretary
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janet yellen right there she was paid a
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whopping
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eight hundred thousand dollars from the
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hedge fund
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citadel which is one of the funds at the
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center of this controversy
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now ask yourself we're going to hire a
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speaker for an event that you have
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let me see who could i hire oh janet
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yellen we'll give her 800 000
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uh we have to face a simple truth here
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there is
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there always has been too many financial
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wall street and political ties with wall
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street
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and people in government i'm not saying
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anything nefarious
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i'm saying hmm i wonder if they hired
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her for great knowledge and interesting
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speaking style
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biden white house downplaying the
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payments and the entire gamestop story
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but it's already
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now drawing bipartisan calls for
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investigations on capitol hill
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somebody knows a lot more about this
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than me the author of
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the trump century he's the host of the
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number one show on our sister network
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lou dobbs tonight the one and only lou
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dobbs you know
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i think janine and your your monologue
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scare me more than my own monologues i
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don't know
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um good to see you lou uh
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great to see you sean all right can we
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break this down
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hedge funds shorting stocks it's part of
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a process
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little guys banding together now looks
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like then they stop
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people can't cash out at this point
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things got ugly today
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the word rigged we heard it a lot under
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the previous president didn't we
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this is a rigged event and that is robin
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hood which has
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all sorts of great positive wonderful
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connotations
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uh its ceo today deciding to disrupt the
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market
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and particularly to the disadvantage of
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those who were
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buying stock in a company that big money
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had said would could
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only decline i but this is a complicated
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story
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more complicated than it's being
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presented because there are a lot of
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hedge funds on the other side of these
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trades standing with those folks who
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started this
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acquisition effort buying up the stock
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as the shorts
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primarily from the hedge funds moved in
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but they're also those hedge funds on
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the long side of this shot
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so it gets complicated the actions taken
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by
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robin hood and several other inter
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internet brokerages today
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to change the rules of of
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wall street right in the middle of this
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event
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probably means that robin hood will very
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likely have
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it could in fact lose the current owners
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could lose control of that company
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the sec has an absolute responsibility
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to move in and to stop this nonsense and
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i want to say that two class
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action lawsuits have been filed against
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robin hood
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for what they have done here over the
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course of the past 12 hours
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and it's it's good to see what is not
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good to see
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is in a presumably active biden
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administration here
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uh with the likes you know of you know
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all sorts of uh market uh regulator
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inclined advocates in the administration
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they've done nothing the sec hasn't
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stepped in
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finra hasn't stepped in all of the the
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exchanges
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are mute this is an outrage and it's an
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outrage it's got to be fixed
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and this isn't the stuff for a uh you
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know a commission
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of of some sort this should be an
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outright
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in my opinion criminal investigation wow
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very informative lou dobbs uh
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don't forget lou dobbs tonight it's
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number one show on our sister network
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the fox business network luke thank you
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thanks for joining us good to see you
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joining
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