Rep Paul A. Gosar letter to AG over Robinhood de-platforming and silencing individual investors

Contact Your Elected Officials
Congress of the United States House of Representatives

Acting Attorney General Monty Wilkinson
U.S. Department of Justice
950 Pennsylvania Ave, NW
Washington, DC 20530-0001

Dear Acting Attorney General:

I am greatly troubled with the events that have unfolded on Wall Street and demand action from the U.S. Department of Justice. Today, a FINRA regulated broker-dealer called “Robinhood Markets, Inc.” halted the purchase of stocks for several publicly traded companies including GameStop, Blackberry, AMC and others. This unilateral move was done so in a concerted effort to de-platform and silence individual investors.

This began when an investment management fund called “Melvin Capital Management” placed an aggressive short sell on the company Gamestop. To contradict this decision, the heavily followed reddit page “r/wallstreetbets” and their administrators advocated that their followers purchase Gamestop stock using the broker Robinhood. The movement was so immense that it drove the stock price to over 400% of its previous value. As a result, Melvin Capital lost billions on their return and Robinhood blocked users from buying anymore of Gamestop stock but still allowed liquidation.

Melvin Capital Management is owned by the parent company “Citadel, LLC” which, according to a Bloomberg Report1, gave Robinhood roughly 40% of their revenue. Knowing the involvement Citadel has with Robinhood, it is clear that the actions taken today were motivated by anti-competitive reasons not for concerns of volatility claimed by Robinhood. Because of this blatant conflict of interest and obvious monopolistic activity, I am calling on an immediate investigation by the U.S. Department of Justice into Robinhood and the hedge fund of Citadel, LLC.

Sincerely,
Paul A. Gosar, D.D.S. Member of Congress

1https://www.bloomberg.com/news/articles/2018-10-15/robinhood-gets-almost-half-its-revenue-in-controversial-bargain-with-high-speed-traders

Robinhood’s High Frequency Trading Revenue Secret

October 16, 2018 ~ Robinhood Markets Inc. is reportedly gaining up to 40 percent of its revenue by farming out customer orders to high-frequency trading firms. Bloomberg’s Jason Kelly reports on “Bloomberg Daybreak: Americas.”

Gosar-letter-to-AG.jpg

The Thinking Conservative
The Thinking Conservativehttps://www.thethinkingconservative.com/
The goal of THE THINKING CONSERVATIVE is to help us educate ourselves on conservative topics of importance to our freedom and our pursuit of happiness. We do this by sharing conservative opinions on all kinds of subjects, from all types of people, and all kinds of media, in a way that will challenge our perceptions and help us to make educated choices.

Trump’s Middle East Triumph is Worth Celebrating Even As Peace Remains Elusive 

President Trump’s bold foreign policy defies globalist appeasement, showcasing unwavering American strength and decisive leadership on the world stage.

Are conservatives fighting a fiction of woke?

Wokery, it hurts to say it, is too disorganized to have an organized cosmology or doctrine of metaphysical belief.

Illinois Democrat Offenders Reveal Party

The crime of J.B Pritzker and Brandon Johnson in this episode of American history is called subversion at the least , but could be as serious as treason.

Inside the Public School Librarian Jihad to Keep Transgender Propaganda on Shelves

Public school librarians are doing all they can to keep child tranny propaganda flowing directly into the malleable minds of their charges.

Five Reasons Why The Latest Czech Elections Were So Important

Populist-nationalist politician Andrej Babis is poised to return to the premiership after his party's victory. Here are 5 reasons why this is so important.

New York AG Letitia James Indicted on Federal Charges

New York Attorney General Letitia James was indicted by a grand jury on federal charges, according to an indictment on unsealed on Thursday.

6 Ways Vaccine Policy Has Changed Under RFK Jr.

Health Sec RFK, Jr. and officials at the HHS changed recommendations and policies for multiple vaccines, including shots against COVID-19 and measles.

Journalists Recount Antifa Violence in Roundtable With Trump

President Trump met at the White House with journalists attacked by the newly designated terrorist group Antifa, joined by Cabinet officials for a roundtable.

IRS to Furlough 34,000 Employees as Government Shutdown Halts Treasury Operations

The IRS said in an emergency message to staff that it will furlough more than 34,000 employees starting on Oct. 8 due to the government shutdown.

Trump Says He May Invoke Insurrection Act in Portland If Necessary

President Donald Trump on Oct. 6 said he may consider invoking the Insurrection Act in Portland, Oregon, if necessary.

Trump: All Medium, Heavy Duty Trucks Entering US Will See 25 Percent Tariff on Nov. 1

President Trump announced on Monday that all medium and heavy-duty trucks entering the United States will see a 25 percent tariff starting on Nov. 1.

Treasury Names Social Security Commissioner as CEO of IRS

Treasury Sec. Scott Bessent announced that Frank Bisignano, the head of the Social Security Administration (SSA), will also serve as CEO of the IRS.

Agencies Terminated, Descoped 94 Wasteful Contracts With $8.5 Billion Ceiling Value, Says DOGE

Various federal government agencies have terminated and descoped 94 wasteful contracts over the past five days, DOGE said in an Oct. 4 post on X.
spot_img

Related Articles

Popular Categories

MAGA Business Central