Make the Stock Market Fair for All

Target: Maxine Waters, Chair of the U.S. House Financial Services Committee

Goal: End stock trading practices that give rich investors an unfair advantage.

The GameStop stock frenzy, which saw the video game retailer’s worth rise 400 percent on Wall Street, has put a spotlight on investing. It has also created a firestorm of controversy. This debate brought the divide between big-time professional investors and everyday Americans who want an opportunity at stock market success into full view.

The hedge funds that drive large, complex, and lucrative stock market transactions have often been accused of market manipulation: deliberate interference of free and fair trade to increase their bottom line. A small group of social media users banded together to outmaneuver prominent hedge funds by super-charging GameStop stock. Companies that marketed themselves as tools for the average investor responded by temporarily halting buying and selling of GameStop and other boosted stocks. Enraged investors saw this move as protection for the big-money hedge funds, which were affiliated with some of the companies. Lawmakers on both sides of the aisle joined in the outrage, prompting a Congressional hearing on the topic of hedge funds and potential market manipulation.

Sign the petition below to encourage action on this hot-button issue.

PETITION LETTER:

Dear Representative Waters,

Finding common ground in a highly partisan political world is  increasingly rare, but the recent phenomenon surrounding GameStop has made for some strange bedfellows. Lawmakers on both sides of the aisle have raised concerns about the activities of hedge fund investors and about potential market manipulation. One Senator even characterized the stock market as “a playground for billionaires.” Meanwhile, the battle between “the big guys” and “the little guys” continues to play out, with an uncertain but assuredly chaotic end.

The time to address the inequities in investing is clearly now. Please use the upcoming Congressional hearing as an avenue not just for talk, but for true change. Unite and devise strategies that will truly help make Wall Street open to everyone.

Sincerely,

[Your Name Here]

Photo Credit: Matthias  Kulka

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3 Comments

  1. Manuela Lopez says:

    I will never understand that money is more important than this planet.
    PEOPLE, you can’t take it with you, I hope you’ll no that.

  2. Paula Morgan says:

    Wall Street must be fair to Main Street. Wall Street must not simply turn wealth over to the Hedge Funds. There needs to be a commission to oversee Wall Street. It is a fact that money can be made and that all who wish to participate should do so realizing their money may be lost. I guess it is a gamble.

  3. To force change, & stop or at least minimize naked short selling, the T+2 rule needs to go, a T+1 rule would give hedge funds less time to illegally manipulate the market. T+0 rule would be even better but I guess we can’t ask for to much. Anything would be better than doing nothing & ignoring the issue at this point. Even Wall Street can see 100xs more data than a retail investor, why? We need Market transparency! It’s all so top secret but if naked short selling isn’t a problem then what’s to hide?

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