GameStop Frenzy Reaches Biden and Powell as Hedge Funds Squeezed

1 min read Original article β†—
White House Press Secretary Jen Psaki says the administration is "monitoring" the GameStop situation.Source: Bloomberg

Everything started innocently enough, way back in 2019, with people on message boards swapping ideas about a left-for-dead chain of mall stores.

Now it’s much bigger: for pundits prone to the dramatic, a David vs. Goliath parable for the age of wealth inequality. Perhaps a vestigial legacy of Trumpism and the populist backlash against β€œthe elites.”