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Sen. Elizabeth Warren Demands SEC to Deal With ‘Market Manipulation’ Amid GameStop Surge

Elizabeth Warren Politics SEC US

Sen. Elizabeth Warren Demands SEC to Deal With ‘Market Manipulation’ Amid GameStop Surge

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In a letter (pdf) to the Securities and Exchange Commission (SEC) on Friday morning, Sen. Elizabeth Warren (D-Mass.) questioned price swings on stocks like GameStop, AMC, and others and wanted the agency to address “any systemic concerns for financial systems.” “Casino-like swings in stock prices of GameStop reflect wild levels of speculation that don’t help GameStop’s workers or customers and could lead to market instability. Today I told the SEC to explain what exactly it’s doing to prevent market manipulation,” Warren wrote on Twitter. Warren, who has painted herself as a champion of Medicare for All and similar policies, said the SEC now needs to review the market activity around GameStop to “act to ensure that markets reflect real value, rather than the highly leveraged bets of wealthy traders or those who seek to inflict financial damage on those traders.” “To protect and restore public trust in sound securities regulation …

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