Biden’s SEC pick sidelined as GameStop drama unfolds

The Hill – In a story about Gary Gensler leading the SEC and the events with Gamstop stock, Healthy Markets Executive Director Tyler Gellasch is quoted saying “This is not funneling capital to its best and highest uses to drive our economy. That’s not what’s going on here. And if you’re the SEC, that has to be your fundamental concern, Your fundamental focus has to be how to make sure that our capital markets are working to drive capital to its best and highest uses to make our economy heal, and give investors reasonable returns and security and stability.” Additionally, Mr.Gellasch stated “What happens if coordination is out in the open? Is it still corruption? Is it still illegal? If what we saw on Reddit was an email between one hedge fund manager and another hedge fund manager, you’d see it as an exhibit in a court case,” (Full Story).

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