Rep. Sherman asks Citadel CEO Griffin about payment for order flow at GameStop hearing

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Rep. Brad Sherman (D-Calif.) asks Citadel CEO Ken Griffin questions at the House Committee on Financial Services hearing for the GameStop trading frenzy in late January. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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Опубликовано:

17 фев 2021

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Комментарии : 388

@FourOneNineOneFourOne 3 года назад

"So which one gets the better deal?" "- Let me explain from the start, 14 billion years ago there was a big bang that started the universe..."

@Aleksandrgrc 3 года назад

Allegedly

@DanielGonzalez-mx7bi 3 года назад

covid related?

@tandoorichicken2147 3 года назад

😂😂😂

@ryana3579 3 года назад

Hes a professional truth evader

@icewingt-ez6fq 3 года назад

420, Don't spoil it

@markkuroda 3 года назад

I wish all the congressmen put pressure on them to answer the question. Vlad saying over and over, "Thank you for your question congressman," to waste time burned my patience and at some point should be illegal. Thank you Sherman for being real and sticking it to them.

@mikerosoft1009 3 года назад

"Thank you congressman for that excellent question, I really appreciate it and I look forward to answering it after I'm done this sentence."

@jonathanshepard1517 3 года назад

@@mikerosoft1009 "And after I'm done this sentence I'm going to answer you. But keep in mind one thing. As I've said earlier."

@lunaticz0r 3 года назад

@@jonathanshepard1517'' as I've tried explaining earlier, in recent findings based on EXTENSIVE research from papers handed in by our CIO, CFO, waitresses, barista's and other valuable employee's, there are more than 2 kinds of apples and to say they taste the same, depends on a multitude of factors as can be found in document number #227466284662 and #6254365276547237822a.2''

@NoelAKABigNolo 3 года назад

Michael Scott telling David what his secret is No matter what, no matter where, or who you are with, for whatever reason, ever, no matter what, FOR WHATEVER REASON...

@15yearoldogi 2 года назад

If u ever thought or still do congressman do anything or take action nothing happens, simple they can't touch billionaires, if u still believe otherwise no reason ur not a billioninare

@repure1999 3 года назад

This man is the biggest market manipulator in history! Premarket pumping up a stock to lure avg people into investing, as most invest these Hedge Fund guys pull the carpet out of there feet! It's time to make a change and protect the avg investor.

@DavidEVogel 3 года назад

I am old enough to know that "free" is never "free."

@luddity 3 года назад

The reason that the house always wins is because the game is rigged. That's why it's free to play.

@chris6197 3 года назад

This is the look you do when you're about to get margin called

@Heavilymoderated 3 года назад

Politicians don’t like it when people answer like politicians

@GS-cx6hv 3 года назад

bingo. Add cops to that list too,

@charliehaddick8285 3 года назад

This one was, he’s going to bat.

@user-em8fq2ev4b 3 года назад

He even recommended him to run for senate...hahahaha

@jonathanshepard1517 3 года назад

@@user-em8fq2ev4b hey its free career advice. He'll be out of a job soon enough.

@regulardude2011 3 года назад

Legend has it, he still trying to answer the question...

@robertmcveigh3653 3 года назад

He was never trying to answer the question.

@Cip962 3 года назад

@@robertmcveigh3653 Exactly my thought as well!

@jonathanshepard1517 3 года назад

@@robertmcveigh3653 He's about to answer the question. But first he's going to say that it's a great question. And after he's going to say that it's a great question he's going to answer it with another question.

@nextchapter9270 3 года назад

Jesus Christ did he answer the fking question yet 😳????

@chadhelvey7827 3 года назад

Muwahahaha

@yackawaytube 3 года назад

Wow.. Ken Griffin is not used to getting scolded. He's a king at Citadel.

@immanuellasker4273 3 года назад

@John Doe he's the king of Bearland

@antonprigge9427 3 года назад

Did you guys hear Ken vomit at 4:53

@immanuellasker4273 3 года назад

@@antonprigge9427 LOool

@casademicasa1 3 года назад

@@antonprigge9427 🤣🤣🤣😂

@louiegreenebaum39 2 года назад

@John Doe No. You are making me laugh. He's an anti-tax-fetishist like Grover Norquist, he controls nothing in Chicago

@SpetsnazRepublic 3 года назад

4:53 listen to Kenny G vomiting from stress. Beautiful sound. To the moon.

@matthewkennedy5741 3 года назад

I thought it was a microphone hit, but the cough & mouth sounds after remind me of being sick. 🙌💎

@def6420 3 года назад

buy AMC its just the start

@VSMOKE1 3 года назад

@@def6420 gtfo its gme bro

@matthewglaser8654 3 года назад

@@VSMOKE1 both r bussin

@pri5748 2 года назад

Bittersweet Symphony

@mseker66 3 года назад

Yes or NO? Vlad: I had the same haircut when I was a little boy in Bulgaria.

@mr13579100 3 года назад

If you're going to filibuster you should try to run for senate xD THAT IS GOLD

@newyorkcityvideos1 3 года назад

Pop

@newyorkcityvideos1 3 года назад

@johny321 3 года назад

There's a huge lack of transparency in how companies make money off people. And it's even more difficult to get a straight answer.

@hofniamwaalwa3724 3 года назад

Market makers make money from spreads or commisions. Not difficult to understand.

@liamohara8785 3 года назад

@@hofniamwaalwa3724 They also make money from front running orders and naked shorting

@anonanon1604 3 года назад

Who's vomiting at 4:53 does Kenny's tummy hurt?

@russramirez7533 3 года назад

He looks scared I dont belive for one second they have covered the shorts

@jonathanshepard1517 3 года назад

there's fear in those eyes.

@def6420 3 года назад

Amen! buy AMC

@marsenault9683 3 года назад

@@def6420 if he did he owes you one of his new Lambo's

@OnSiteTvee 2 года назад

@@marsenault9683 Maserati and or Mercedes for me!

@btw-3006 3 года назад

This guy made $1.5 billion dollars in 2019. Let that sink in. In one year, he made over a billion dollars. Many people could only dream of making that in their entire life.

@hofniamwaalwa3724 3 года назад

Because he has a skill to make that much money.

@stevegould1730 3 года назад

God Bless America!

@ChronicChess 3 года назад

@@hofniamwaalwa3724 yeah as a scam artist

@bob4135 3 года назад

His company is done.

@adam37spade78 3 года назад

@@hofniamwaalwa3724 He's just criminal like Bernie Madoff. A criminal though. Hope his luck runs out

@izakmizrahi8569 3 года назад

Making $117M/month cant prevent you from getting chewed out

@kb6530 3 года назад

But does it even bother you at that point , I'm sure everyone they steal from also complains , but that's how they make money ....so I sure they feel bad for victims while they rub themselves, just like power company, insurance company , basically all the corrupt monopoly

@_LEONKING_ 3 года назад

Except when he successfully failed to answer the question and placing himself in an even more uncomfortable position. Let's be logic here, the guy pulled off exactly what his lawyers told him to.

@roykarstok7982 3 года назад

Anyone else hear him vomit at the end of the video at timestamp 4:53....

@vaultboy6985 2 года назад

Hearing Kenny vomit in the background is GOLD.

@HotBoii91 3 года назад

I like this guy Sherman!

@lobal2 3 года назад

Sherman went in like a tank.

@TM-gp5bc 3 года назад

He admitted Fidelity and RH and different products (channels). So Fidelity gets the better order here. RH is the FB channel of investing.

@Tallen79 3 года назад

I use RH and I'm ok with the few pennies I lose per trade because I wouldn't be trading under other circumstances. RH is shifty AF but as long as they provide a free streamlined trading platform I'm going to keep using it. I also use fidelity but their platform is terrible, it's like they're trying to simulate the "vintage" trading style of reading a newspaper then writing a note to a currier to buy or sell something.

@DavidEVogel 3 года назад

Agree. A $1 million order from Fidelity gets a better price than a $1000 order from Robinhood. Simple economics of scale.

@joechung5900 3 года назад

Why would any1 want to used RH if your not getting the best prices thats just common sense to me...

@DavidEVogel 3 года назад

@@joechung5900 Convenience. No minimums. Ability to purchase partial shares.

@NaProbablyNot 3 года назад

@@Tallen79 I guess... been trying to understand this. Why wouldn’t use a Fidelity for everything? Especially if ur trading often and certainly if it’s larger dollars. Personally I really like the trading platform at Fidelity. They don’t have balloons or confetti when I trade, but I don’t need that excitement. Just get a good execution.

@zGypSyKIngz 3 года назад

All that noise at the end, if you listen closely, it’s Ken throwing up when the camera is not on him. 🤣🤣🤣 GME TO THE MOON🚀🚀🚀🚀

@laserproof 3 года назад

Is he throwing up at 4:53?? 👀

@def6420 3 года назад

buy AMC its just the start

@jamesfish2132 2 года назад

Throw up noises at 4:55

@silvao6589 3 года назад

Griffin is such a godly man! See how he looks to the sky for answers 🙏🏼

@dankfranco2768 3 года назад

underrated! unbelievable that he had 5 other people in the room with him

@ryugurena3327 3 года назад

😂😂😂

@silvao6589 3 года назад

@@dankfranco2768 and that's what he said, lol... Truth might be a different ball game 😉

@dankfranco2768 3 года назад

@@silvao6589 A whole boardroom of them :O

@maximix3531 3 года назад

Looking up but slightly to the right to the God of money

@LCh-dj4up 3 года назад

Citadel is corrupt

@def6420 3 года назад

Buy AMC everyone its just the begining!

@Waji7081 3 года назад

This is first time I know that brokers are being paid by market makers like "Citadel" who has 2 different pricing models for brokers.

@bryanshealy1260 3 года назад

They are essentially making money off the buy to sell order spread. setting limit orders gets around this somewhat. But honestly it doesn't matter much unless you are day trading. This is why day traders will always be at a disadvantage. Longer term buy and holds have tax advantage and higher price targets.

@nextchapter9270 3 года назад

We're coming for you Kenny 😉

@junnii4635 2 года назад

AND he knows it Very Well

@edwardallen1195 3 года назад

Why not ask Citadel about their $810K payment to Yellen? What were they buying?

@baylonbarreto1071 3 года назад

Power

@Edwards-London 3 года назад

a lot of respect for Brad Sherman

@kellerassel6698 3 года назад

AT 4:53 YOU CAN CLEARLY HEAR KEN GRIFFIN VOMITING BECAUSE OF THE STRESS!

@epidermiuss 3 года назад

is that real?!?!?!

@def6420 3 года назад

buy AMC its just the start

@kellerassel6698 3 года назад

@@def6420 bro in my honest opinion (no financial advice) it all started with GME. then the hedgies used AMC, BB, NOK, NAKD to shoo the investors to different stocks because they thought with diversification we are no threat. then they pumped RKT next and so on.. i strongly belive the one and only play is GME and that is DD ive done all by myself... buy whatever you want, i really hope you make big money too. in my opinion AMCs float is too big to squeeze, but what do i know? i could be completely wrong, i snort crayons all day for fun!

@def6420 3 года назад

@@kellerassel6698 Thank you! But GME is mostly owned by institutions isnt it?

@kellerassel6698 3 года назад

@@def6420 yes, and that even narrows the float down to about 27M shares. the institutions are not likely to sell themselves!

@bikerfreak714 3 года назад

"never answer the question" is how he got to where he is right now. ken griffin is the poster boy of wall street. good job of rep. sherman for insisting he answers the question

@def6420 3 года назад

buy AMC its just the start

@txbre8758 3 года назад

LETS GO SHERMAN. ROAST THE HEDGIES.

@brett19890 3 года назад

It didn't really do much, but Robinhood getting fined was warranted.

@lalocTdot 3 года назад

Short squeeze is still on GME and amc

@user-gy7cy7os7g 3 года назад

Payment for order flow is so the market makers only have to interact with non toxic order flow.

@Avve22 3 года назад

This guy wont be able to answer that SIMPLE question....

@andrewjackson9948 3 года назад

It might now be a fair question. We will never know since we didnt hear the answer lmao

@Qwuiet 3 года назад

Absolutely nothing is free. Nothing.

@avathorn2345 3 года назад

Woah!! He reclaimed his time. That was amazing!! The CEO was squirming in his seat. Epic justice turn of events unfolding, where's the popcorn? And yes, holding on to my shares, moongang!!

@yk8301 3 года назад

If you’re going to filibuster run for senate 😂

@haz1nr425 3 года назад

Kenneths reading a script

@thebushninja8666 3 года назад

Someone's gotta catch kenny out back and teach him a lesson

@wertytrewqa 3 года назад

sherman gives me faith in the legal system to a degree. atleast he is getting to the point.

@johnstifter 3 года назад

Not getting anywhere other than showing us how ignorant he is about economics

@GlumoTV458 3 года назад

@@johnstifter how much is Melvin paying you?

@Thomas-gm7wb 2 года назад

Wow. How hard is it to answer a damn question

@rickyblaze-starwarsbattlef4413 2 года назад

He has to be reading off a screen 😂😂

@loripothead6987 3 года назад

Oh he sure doesn’t like ole kenny. Hahahahaha!

@franklyanogre00000 2 года назад

Ken so stressed he pukes at 4:53.

@starzee9706 3 года назад

He wasn't prepared to answer the question, so you can take it the answer wouldn't be in his favour. Rep Sherman did an excellent job stopping Griffin from manipulating the question.

@livinindubai 2 года назад

Could you tell what the correct answer? If I buy 10 stocks of X from fidelity and robinhood am i "losing" something?

@hendrikmuller1016 3 года назад

4:53

@def6420 3 года назад

buy AMC its just the start

@alexz9135 2 года назад

Kenny is puking at the end.

@davep5647 3 года назад

Ken Griffin or Oj...who's the bigger liar??

@tradeology 2 года назад

Who gets the better deal?… That isn’t my question sir you’re “evading” the question I am asking…, lmao 🤣

@mattdurrr5731 3 года назад

No no Sheppard, thank you!!

@digitalassetnews3244 3 года назад

Investing in crypto is a big chance to make money

@fredrick673 3 года назад

Yeah sure Crypto yields more profits with the favourable market rise

@sandwinters8619 3 года назад

I've been an investor and I can tell it changed my life for better 😊😊 Investing in crypto will be one of the widest thing to do

@manecowen6627 3 года назад

I had intrest in investing in crypto but I was discouraged by friends and family, I was being ignorant though

@decoleo9999 3 года назад

@@manecowen6627 Exactly ! That's definitely ignorance , they are good Markets to invest in and earn profits of your investment

@aishafatima5089 3 года назад

I have been trader for over 7 month's with no good returns, rather loss and blown accounts , really heart breaking 😢😢

@DickDangerMoto 2 года назад

Let me better explain Mr. Griffin...If you have 2 stocks of AMC and 2 stocks of GME, how many stocks in total do you have!?!?

@bucky354 3 года назад

This guy ken just looks evil

@juniormushu 3 года назад

Basically talking about dark pools

@QueEstaPasando_YT 3 года назад

Hes reading the answer on an ALREADY established question clearly.

@crashitallandwatchitburn2061 2 года назад

#kengriffinlied

@nancyk7954 3 года назад

Every once in a blue moon, a Representative throws the little people a bone. Kinda of like Joe Manchin not voting for Nera Tandun. Lets hope we start seing a lot of bones piling up. Their future in DC may depend on it.

@johnlam4470 3 года назад

No Free Lunch, However retailers will always be getting the short straw in terms of trading. The MM and trading platforms are all in together.

@AS-rh7td 5 месяцев назад

He absolute pukes at 4:53 from being told ‘No, you’re a fraud!” For the first time in his life.

@chrisstockbridge9667 3 года назад

This Brad Sherman is a boss.

@Quickscript 3 года назад

Your days are numbered Kenny

@eddutome 2 года назад

Arrest Ken Griffin

@beerguy4207 2 года назад

Ken Griffin lied, just sayin.

@Fridge_Fiend Год назад

He frew up

@Asian_Connection 3 года назад

Its so funny that the lawmakers expects a straight answer! What world is he living in?

@bubuli 3 года назад

4:27 Wow a murder just happened. is someone going to report the incident to the authorities?

@WheelerRickRambles 3 года назад

Griffin lies about naked shorts in previous vid… and today on CNBC a talking head effectively let it slip that naked shorts are out there!!!

@natecote1058 3 года назад

* CEO of Shitadel.

@jamesswift8315 3 года назад

4:53 Ken throwing up

@russramirez7533 3 года назад

Remember ppl you dont lose untill you sell just like they dont lose untill they cover so they have reason to lie and say they covered when they have not

@ap0c4lyps37 3 года назад

interest fee, they are borrowing and there is no borrow for free

@canadaape7378 3 года назад

$AMC 500K

@thebestken 3 года назад

I have no problem fidelity getting better than robinhood if it is a paid channel. Also, one has to be first, then why should Robinhood be first. They both can't be executed the same time. Question is why a private company is executing all our orders? It should be an open source algorithm that everyone knows how the orders gonna be filled for transparency and auditing.

@tr0l0l0l0l1 2 года назад

Hence the huge corporate media attack on NFT/crypto. blockchain in general

@youngcoby7029 3 года назад

Of course we use it so our cpu can manipulate the situation before it happens duh

@madmitch7733 3 года назад

Oh lets go!

@davidcaron8330 3 года назад

Tik tok Kenny G, tik tok....

@dotsthots 2 года назад

Can you imagine if the same happened in court. "Did you do the murder? " "Well, there are things I need to waffle about first before I answer... " Time has expired.

@dabay200 3 года назад

The CEOs are all expert time wasters, there is more chance of GME going to $1000 than getting a straight answer out of them.

@soccerjockey456 Год назад

If you start listening at 4:52 you can hear Kenneth Griffin throw up. I mean if I defrauded the retail investors and had to go live on TV with a senator i’d prob throw up too.

@Shanshu72 3 года назад

I love the disgust on Brad's face when Ken said "That's a great question." He got the instinctual duck lips.

@Primal_Primat3 3 месяца назад

Wondering if anyone can help. Im looking for a specific part of the hearing with Ken, im looking for the clip that has the part you can hear him throwing up off camera from it all getting to him.

@asscurt 3 года назад

😅🤣🤣🤣🤣🤣🤣😂😂😂😂😂😂😂🤣😍🤩😍😍😍😍🥰😅😅😅😅😅😅😅😅😅🤣😂😂🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣your doing a great job of wasting my time!

@Pano_CheezY 3 года назад

You get a much better order flow if you are paying. The execution will always be better, if you're paying for execution. In example Cashapp lags behind Webull as far as price movement is concerned it is always lagging 1-2 cents behind depending on the run-up.

@raybod1775 3 года назад

Make it illegal to short stocks?

@paolofurione7820 2 года назад

Keep it up and don’t forget

@gravitykat1100 3 года назад

Why is ken using a deep fake?

@StefanUrkel 2 года назад

#KenGriffinLied

@ms9240 3 года назад

He should really let Ken answer, learn about pricing and verify with his contacts. The politician is wasting his own time.

@ap0c4lyps37 3 года назад

what else is there to say. It's basically a yes or no question.

@ms9240 3 года назад

@@ap0c4lyps37 True but I still would want to hear his reasoning to see if possible collusion with brokers is restricted to Citadel or an industry norm 👍

@spacemanmusic9919 3 года назад

The burnnnnnnnnn I was lmao when he went off on that robot ceo

@YGM-dt3qf 3 года назад

So is not for poor people The bank charge $10

@kriterium123 3 года назад

They are all so good in speaking 1000 words but not answering the question 😅

@keeganmichel7598 3 года назад

Kenny is a robot clone

@HT-vd4in 3 года назад

Just trade on Limit!

@bryanshealy1260 3 года назад

that's only half the story, you also need visibility on total number of buy and sell orders real time. Otherwise its just a shot in the dark.

@Crounsrisque 10 месяцев назад

Ken is answering, this rep jars my ears and eyes

@pauldorough 3 года назад

Griffin for Prison 2021

@kb6530 3 года назад

Don't forget about then orbing millions of people to save themselves! All the rest is noise

@bianchimatt6746 3 года назад

This dude couldn't have missed the point any more. The issue is market manipulation not whether or not trading platforms execute trades to their benefit. Jesus H, when will a "representative" actually represent the people?!!??