'Accept The Consequences:' Pa. Sen. Pat Toomey Calls Actions Of Robinhood Unacceptable
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By: KDKA-TV News Staff
WASHINGTON (KDKA) - Lawmakers on both sides of the aisle called the actions of Robinhood unacceptable.
That includes Republican Pennsylvania Senator Pat Toomey.
"Retail investors should be free to purchase, even highly-speculative stocks, just as hedge funds should be free to short them," Sen. Toomey said. "All investors should accept the consequences, whether they gain or lose from their decision."
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Toomey also added that the new platforms have been great for retail investors who now have a greater opportunity to accumulate wealth.
He did, however, warn against regulatory overreaction.
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