As federal lawmakers prepare for hearings about the Robinhood trading app’s role in recent stock-market chaos, venture capitalist Mark Cuban and entrepreneur investor Lee Rashkin say there is plenty of blame to assign.
They point to the wider industry and lawmakers that failed to stress-test investing companies that don’t charge commissions.
“All zero-commission brokers [must] pass a stress test,” Cuban told Zenger News when asked what Congress should focus on during a February 18 House Financial Services Committee hearing. “Those that can’t are limited in the number of customers they can have and how much they can trade.”
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