CNBC has now removed the Gary Gensler interview from their YouTube channel. Here’s the full 15 minutes, for safe keeping here in the Jungle. Note his opinion of retail redditors hasn’t changed- we aren’t doing anything wrong here 🤷🏼‍♀️

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When asked what he thinks of reddit investors discussing stocks online:

“I think it’s the same as it’s been for decades- it’s trying to foster good debate and dialogue, just like on this program here (CNBC) about investing and the retail engagement is positive, but also to guard against fraud and manipulation. And whether that’s from big actors- big hedge funds- in the markets, or not. And also to promote transparency. We’re taking a real close look at market structure. I recently started engaging on twitter to some of those twitter followers who are talking writing about dark pools. We are looking very closely at this market structure that so many of our retail public orders are not going to the lit markets, but are going to internalizers, who are going to wholesalers, who are taking the retail public’s trades, rather than sending them to the stock exchanges.”

In summary. In just 2 minutes, Gary Gensler (Chair of the SEC) said:

• Talking about stocks on reddit is no big deal (same as CNBC talking about them)
• Stopping manipulation of stocks is the purpose of the SEC and that ‘Big’ Hedge Funds are the ones doing it
• Actively investigating the improper use of Dark Pools to manipulate stock price
• Considers himself on the side of retail investors “our orders”