Watching the @FSCDems hearing on GameStop.

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Ranking member McHenry says there is “wisdom to the crowd” and said that general public is more savvy and intelligent and people in Washington think they are. Funny. The Securities laws were created to protect investors. With a “seller beware” motto from FDR

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He is complaining about the accredited investor definition designed to protect people who cannot afford to lose money from being fleeced by securities offerings where there is not adequate disclosure.

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Now @RepMaxineWaters is introducing the witnesses and reading bios

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I agree with @BradSherman, the GameStop saga would make a great exam question. Especially questions about payment for order flow. Even if perfectly legal, is this a problem for the stability of our financial markets?

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