'Accept The Consequences:' Pa. Sen. Pat Toomey Calls Actions Of Robinhood Unacceptable

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."

RELATED STORIES:

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.