Last week’s US House Financial Services Committee hearing on GameStop, “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part II,” showed mostly a lack of understanding about what securities lending does in the market. The story isn’t all bad – there were a few good suggestions about next steps. The end result seems to be consistent thinking that somehow securities lending is bad or nefarious, when in fact it is neither.
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