Citadel CEO Ken Griffin & “Game Stopped”: Robinhood Goes to Washington
Two participants in the House Financial Services Committee “Game Stopped” hearing debrief on the marathon day on Capitol Hill. Ken Griffin, the billionaire CEO of hedge fund Citadel, defends his $2 billion investment in short seller Gabe Plotkin’s Melvin Capital amid the height of the GameStop mania. Griffin says that there is “no doubt” that the amount of short selling will be reduced thanks to the power that Reddit-fueled retail traders demonstrated with GameStop. Rep. Ritchie Torres (D-N.Y.) discusses his concerns about the “democratization of financial addiction,” the subject of his questions to Robinhood CEO Vlad Tenev during the House hearing. Plus, a big happy birthday to Andrew Ross Sorkin!