Chares Payne Today On Gary Gensler, SEC, and Retail Investors || AMC Update || GME Update
Chares Payne Today On Gary Gensler, SEC, and Retail Investors || AMC Update || GME Update
Charles Payne had a discussion today about Gary Gensler, the SEC Stabilization Act (which would fire Gary Gensler as SEC Chair), and retail investors. Rep. Davidson and Rep. Emmer have brought forward a new bill, the "SEC Stabilization Act", which would remove the SEC Chair role, and replace it with six bipartisan commissioners and one Executive Director to fulfill day-to-day operations. The bill has been met with both applause and skepticism, as Representative Davidson voted against the "Short Sale Transparency and Market Fairness Act". Dave Lauer voiced his concern on Twitter this morning, saying the bill would paralyze the SEC, preventing it from doing its job to regulate large firms on Wall Street. All of this information is very important for individual retail investors who have rallied behind GME stock and AMC stock in order rescue both GameStop and AMC from the brink of bankruptcy due to malicious short selling. Nothing has been done by regulators to hold large institutions accountable for what happened to GME stock, AMC stock, and others in January 2021, when buying was halted and selling of shares was still allowed. This information is also important for the entire stock market as individual investors continue standing up for a free, fair, and transparent stock market for all investors. Gary Gensler's fate as SEC Chair has major implications for crypto and blockchain companies, including both Coinbase and Binance.
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