something them for making money i mean house financial services committee is going to be talking to robin hood melvin capital city bill reddy u.s. regulators a subpoenaed so michael roaring kitty. i mean. do you expect those that evangelize for or. for revolutions in capitalism is as you seem to be describing to end up subpoenaed and to be attacked remorse is the by the powers that be. all of that going on just shows exactly how unfair of a playing field this is the big boys always get special treatment and the little guys always get screwed that's the way the traditional financial system is set up intentionally whereas when all these securities are tokenized on the block chain there won't be any sort of robin hood they can just turn off trading for everybody and are turned off buying a game stopper or whatever else they're everybody will be on the same level playing field so the sooner we can get all these securities everything else tokenized on the block chain you're not going to have the central authorities like the f.c.c. that's basically they're they don't protect the end consumer they protect t

leaders of robin hood, melvin capital, reddit and citadel are testifying in late january, millions of investors bought gamestop shares, causing it to skyrocket more than 14,000% some hedge funds and other short sellers ended up losing billions of dollars. i got her start coming up at noon. it's go time for nasa. the mars rover is set to touch down on the red planet in just minutes. look at what scientists are hoping to learn from this mission to roll over to give the radar a better look at the ground. afflicted indicates a perp you deploy. timk to the landing of nasa's mars rover. perseverance expected to land any minute now, let's posit listen into the nasa engineers and scientists as they attempt to make this happen. let's listen. to the landing engine that shell said, is 83 m per second at about 2.6, kilometers from the surface mars. confirmation that the back shell has separated. we're currently performing the divert maneuver. velocity is about 75. m per second at an altitude of about a kilometer off the surface of mars here in 50 bravo. we have completed our trainer out the navig

witnesses include the robin hood ceo, citadel ceo, melvin capital management ceo, steve huffman, and financial analyst keith gill. watch live thursday beginning at noon eastern on c-span, online at c-span.org, or listen on the c-span radio app. >> today is presidents' day. here on c-span, we will take a look at the lives and accomplishments of former presidents. next, we take you to the place where ulysses s grant would write his memoirs before dying of cancer. >> when grant arrived at the overlook, and here he is, very ill, only a few days left before he passes away, and seeing this great beauty, this valley that once saw conflict and warfare, and where our nation was born, was now a peaceful valley where farmers were working. he must've taken some satisfaction in this,

witnesses include the robin hood ceo and melvin capital ceo and reddit's ceo and financial analyst keith gill. watch live beginning at noon eastern on c-span or listen on the c-span radio app. ♪ >> you are watching c-span, your unfiltered view of government. c-span was created by america's cable television companies in 1979. today, we're brought to you by these television companies who provide c-span to viewers as a public service. >> the house armed services committee held

witnesses include the ceo of robin hood, the ceo of citadel, melvin capital management ceo, gabrielle plotkin and financial analyst keith gill. watch live thursday, beginning at noon eastern on c-span, online at c-span.org or listen on the c-span radio app. >> during a house judiciary subcommittee meeting, a number of legal experts talked about the president's clemency power and when it can be used under the constitution.

witnesses include robin hood ceo , another ceo, melvin b ceo, reddit ceo, and a financial analyst, keith gill. watch live today beginning at noon eastern on c-span, online at c-span.org, or listen on the c-span radio app. " continues. host: david reynolds is distinguished professor at the city university of new york graduate center. he is the author of the new biography on abraham lincoln. abraham lincoln gets a lot of books written about him. he pointed out in your book that some 16,000 books have been written about our 16th president. what prompted you to write yours? guest: thank you for having me this morning. my book is what i call a cultural biography. i believe that everyone of us is so much determined by our immediate culture, our social group. our family's cultural background. also in the larger culture as well that intersect with our lives. it has never been done with lincoln before. he had many biographies that traces life from day to day. nothing that ever expands out to the culture that was constantly seeping into his consciousness. shaping him. he in turn became an effectiv

. >>> ceos of robin hood, citadel, melvin capital, reddit, and retail investor keith gil will testifymittee tomorrow of the gamestop trading frenzy robin hood's ceo saying, quote, robin hood did not help hedge funds to customers' detriment. reddit, to keith gil says the idea he used social media to promote gamestop is preposterous joining us is congresswoman maxine waters chair of the house financial services committee good afternoon and thanks for joining us. >> i'm delighted to be with you. thank you for inviting me. >> clearly, that is quite a long list of different characters and companies attending your hearing tomorrow let's start with citadel and ken griffin. what is your main question for them >> well, i want citadel to tell us what role they played in what happened i guess january 28th. i am simply asking for facts i do not come with any preconceived notion that i know everything that went on. and i am asking them not to come with a lot of extraneous material tell me exactly what role did you play in what happened january 28th that led to the volatility and the disruption in

witnesses include robin hood ceo, citadel ceo, melvin capital management ceo, reddit ceo and financial analyst keith gill. watch live thursday on c-span, online, or listen on the free c-span radio app. >> during their winter meeting, mayors from across the united states talked about gun violence

witnesses include robin hood ceo, citadel ceo, melvin capital management ceo, reddit ceo and financial analyst keith gill. watch live thursday on c-span, online, or listen on the free c-span radio app. >> during their winter meeting, mayors from across the united states talked about gun violence and how to address the rise of crime in their cities. >> good afternoon, everyone. i'm john cranley, mayor of cincinnati and chair of the u.s. conference of mayors task force of mayors and police chiefs. we have a great program today. we're here to talk about what mayors can do and are doing to reduce gun violence in our respective cities. take questions and have a conversation. and, frankly, it comes on the heels of one of the most violent years that many of us have been through. we appreciate the help and support every town for gun safety and mayors against illegal guns has provided to us in organizing this session. and to all of us individually in our cities. individually in our cities. first, cincinnati is unfortunately one of the many cities that saw this. a huge spike in gun violence. in

witnesses include the robin hood ceo, citadel ceo, melvin capital management ceo, the reddit ceo, and a financial analyst. much live thursday, beginning at noon eastern on c-span. online at c-span.org or listen on the c-span radio app. before reaching the national political stage, bill and hillary clinton were teaching well. the clinton museum is the couples first at that house and where they got married in 1975. >> welcome to fayetteville, arkansas. we're at the clifton house museum. this house was built in 1931 by a local man. would have been on the outskirts of town on that time in the middle of the ozarks. this would have seemed like a pretty fancy house for that era.

witnesses include the robin hood ceo, the citadel ceo, melvin capital management ceo, the reddit ceo, and a financial analyst. watch live on thursday, beginning on noon, online at c-span.org, or listen on the c-span radio app. >> president biden's nominee for attorney general, judge merrick parlance testifies before the senate judiciary committee, monday for his confirmation hearing. watch our live coverage at 9:30 a.m. eastern on c-span, or c-span.org, or listen live on the c-span radio app. >> the naacp announced a lawsuit filed against former president donald trump and his attorney would be giuliani, for inciting the attack on the u.s. capitol on january 6. speakers included congressman, and the naacp president. this is 15 minutes. >> today, you will hear from president and ceo from the naacp. they congressman, the u.s. representative from mississippi in the second congressional district. general counsel for the naacp. and the partner and cocounsel. we have opening remarks from each one of those as well, and at the end, conclusion of their comments, we will open the floor for any c

witnesses include the robin hood ceo and melvin capital ceo and reddit's ceo and financial analyst keith gill. watch live beginning at noon eastern on c-span or listen on the c-span radio app. ♪ >> you are watching c-span, your unfiltered view of government. c-span was created by america's cable television companies in 1979. today, we're brought to you by these television companies who provide c-span to viewers as a public service. >> the house armed services committee held testimony on the defense department's response to the pandemic and how the military is working with fema. witnesses included representatives of the joint chiefs of staff, national guard, and the dod's homeland defense office. this runs 2.5 hours. [gavel pounds] >> welcome our witnesses. members and staff. to this hearing, that will be hybrid. there are a few members here and most members are participating remotely. so i have a script i have to read. members who are joining remotely must be visible on screen for the purposes of identity verification, establishing and maintaining a corn, participating in the proceeding

melvin's view about whether it will. also tackles this idea which was quite controversial at the time of robin hood's decision and other brokerscisions to limit purchases of certain securities, including gamestop he will say that melvin capital played absolutely no role in those trading platforms' decisions. in fact, melvin closed out all of its positions in gamestop days before platforms put those limitations in place then if you recall melvin capital as all of this was unfolding, it received an investment from citadel and .72, 2 $2.75 billion. gape plotkin will address this as well saying melvin capital was not bailed out in the midst of these events. he says that is contrary to many reports and noting citadel proactively reached out to become a new investor similar to the investments others make in their fund the opportunity in essence for citadel to buy low and earn returns for investors. other aspects of the remarks include the fact that january was very humbling for plotkin. he mentions his background growing up in a middle class family in portland, maine. he is married with four children and that his firm melvin was nam

witnesses include the ceo of robin hood, the ceo of citadel, melvin capital management ceo, gabrielle plotkin and financial analyst keith gill. watch live thursday, beginning at noon eastern on c-span, online at c-span.org or listen on the c-span radio app. >> during a house judiciary subcommittee meeting, a number of legal experts talked about the president's clemency power and when it can be used under the constitution. >> i would like to express sadness at the passing of member right. he was a gentleman and we will miss him and we mourn his loss and i would like for us to have a moment of silence in his honor. without objection. thank you. at this point, mr. johnson, if you would like to lead us in prayer regarding the passing of our colleague, you will be recognized. >> thank you, mr. chairman. our colleague has joined us. he knew representative wright as well as anyone else and says he was a good family man and truly dedicated public servant to his constituents into the country. i will lead us in prayer. i pray, heavenly father, for this day and the work you put before us and all

the wall street journal says melvin capital holdings slid 53% in january. online brokerage robin hoods narrowing its list of restricting stocks from 50 companies to eight but users will still only be able to buy one share of game stop. if a customer already owns one or more shares of game stop, they won't be able to buy more. robin hood is facing backlash for restricting trading last week. >>> the air carrier warned 14,000 employees they might be furloughed. united is now asking the government for a third bail out. >>> peloton is kicking off black history month with style. tell us more about that. >> yes, indeed. peloton teamed one four artists to create styles. each designer worked with peloton instructors to create looks. >> all right. styling while you sweat. >> i like it. >> nice little combo there. we will see you again. >>> 5:39 time right now. renovation roadblock. >> next on kpix 5 and streaming on cbsn bay area, the new law that is forcing bay area homeowners to rethink home improvements adding a hefty price tag to repairs. >>> all right. i'm tracking a cold front to push acr

when it says include robin hood ceo -- citadel ceo kenneth and melvin capital management ceo gabriellefinancial analyst steve gill. watch live today beginning at noon eastern on c-span online at c-span.org or listen on the c-span radio app. >> looked to be on c-span two has top nonfiction books and authors every weekend. coming up saturday at 8:00 p.m. eastern, a discussion on the book "now one." steve and contributor cynthia -- the american enterprise institute john with his book "after the people voted." he is interviewed by author and former editor in chief of the texas review of law and politics. at 10:55 p.m., the author of a book about how women brought -- watch on c-span two. >> president biden's nomination for attorney general before the senate judiciary committee on monday for his confirmation hearing, watch our live coverage at c-span and c-span.org or listen live on the c-span radio app. >> washington journal continues. a student next on washington journal, we are joined by arthur brooks, professor at -- author of the book "love your enemies. -- "love your enemies." thank yo

waters and her congressional panel, but we do know that melvin n-uppercase-letter citadel security would send executives spirit we knew robin hoodsllers as well, melvin capital. citadel in the middleman position, not only the fund that pays for the order flow from robinhood, which is probably the main way they make money, but the fact they are the backer of melvin c-uppercase-letter did citadel have anything to do with telling robinhood to stop trade gamestop. stuart: that's the basic question, did they collude to screw the little guy-- excuse my language. susan: that's one way to put it. i put it in more pc language. stuart: very good of you. here we go. let's get back to the catch a story. for one lawyer it was-- oh, dear-- a cat test of the. watch this. >> i think it's a filter >> i don't know how to remove it pure i'm not a cat. >> i can see that. stuart: okay. some people enjoyed that. it's a surly doing the rounds on the internet and we may do it again later in the show but next president trump reportedly enraged by the performance of his impeachment lawyer. i will ask congressman jim jordan if yes look into the former pres

would be broadly speaking for the hedge fund community, but it forced melvin to rise, what, almost 3 billion in capital. and robin hood kind of from the same trades that was focussed on game sstop we see it there now approaching new recent lows. carl, another area we've been talking about on our show in terms of at least the focus that jim focussed on in the reddit wall street bets area, robinhood trading platform is spaces those that require a merge with an ev company. i wanted to mention today, did you guys see we got a new spac from wilbur ross we're looking at tuesday jim, did you see wilbur ross 83 years old he's launching a new spac. larry kudlow is on the board they got that. yeah then you got mullenberg the boeing ceo launching a spac. >> yeah. >> obviously omari ishrock i could go on and on they just hit my inbox every five minutes there's another announcement, either a new deal, a planned deal, or they announce their transaction. but jim, it just continues we have two indexes now. we have one that tracks the spaces after they price their own deal but before they announce their merger candidate and then we ha

was melvin capital management which another hedge for and citadel has since bailed out in these losses citadels founders can grip and who also founded so those securities a big investor in robin hood up also works with t.d. ameritrade and charles robb the companies that were cutting these people out and saying you cannot buy game stop on our apps anymore. are companies that actually have connections to to melvin management who is losing money because of what was happening and it all comes full circle i think that what this goes to show is that one there is the mechanisation behind all of this drive to shut people out and once they saw that so many people had gotten involved and engaged in that raid it had basically taken over to a certain extent and they were a to stop it immediately and now you know these organizations as well as those who actually bought the stocks are calling on congress for 2 very different things one you know the stocks and sells there they just want this to you know it in the individuals they're saying well this is the this is how the game is play this out the big boys have been playing it for ever so why are you changing the rules that exactly you you know

melvin capital's holding slid 53% in january. the hedge fund had shorted game stop stock believing it would go down. an online brokerage robin hoodcted stocks from 50 companies to eight. user are -- users are still facing limits. they will only be able to buy one. [ indiscernible ] . >> i feel like this dram will keep going and going and going we will see what happens. thank you. >>> time now for a look at what is coming up later on cbs this morning. tony joins us from new york with this. tony, good morning. >> hey, good morning. ahead on cbs we will have the latest on the biggest winter storm to hit the northeast in years. plus, a new covid very i can't -- variant cntinues to spread all across the country. one hospital's effort go door to door to get people vaccinated. also we will talk with the editors after new book highlighting african-american history >>> now his family is opening up about a secret that it has kept for years. why his loved ones are speaking now and how they hope it will help other families. it is a powerful story. i wish i could tell you more about it but it is one we agreed to keep under wraps until the sho

testified today will be witnesses representing wall street firms melvin capital ansys it'd l, social media companies reddit, trading at robin hood, as well as one of the retailers involved. subsequent hearings, we will hear from regulars and other experts, including shortselling disclosures. many americans feel that the system is stacked against them and that wall street always wins. in this instance, many retail investors appeared motivated by a desire to be wall street at its own game. given the losses many retailers possessed, and the volatility in the system, the system is rated against them and that has been reinforced. others have noted there are winners and losers in every trade. as the -- our role as the financial services committee is to ensure financial markets offer robust protection and accountability for wall street. this will be an opportunity to get the facts about the role of each of the entities of the businesses represented. now, i recognize the ranking member of the committee. mr. mckendry, for five minutes. >> thank you, madam chair. let me begin by saying i believe americans are far more sophisticated and in

was melvin capital which was losing a ton of money on its short bet, to citadel securities to halt long trades, and so far i'm not sure that's happened yet. >> reporter: liz, that's right. robin hood's ceo was directly asked if there was any outside influence that played into that decision to stop their customers from buying gamestop stocks. he said no. he was under oath today. he also said anyone else here today, any of the other witnesses -- which includes melvin capital's ceo -- none of them pressured him or played a role. he said it wasn't the fact that short sellers were losing money on this at a rapid pace, but really because they were running out of money. they did not have enough capital to cover the deposit requirements for the surge of stock offers. >> isn't it true that being concerned about having enough capital to meet the requirements, isn't that a liquidity problem? could you just answer yes or no? >> chairwoman waters, i appreciate the opportunity to address that -- >> yes or no. >> we always felt comfortable with our liquidity, and the additional capital that robinhood raised -- >> please answer yes or no. >> we always -- >> [inaudible] i don't have time. i just nee

melvin capital which almost went under. he was, citadel securities buys the payment of the trades from robin hood processes those trades.a practice known as payment for order flow. that allows robin hood to charge people no commissions. robin hood as you know this is the center of this as well. at the hearings from what we understand, the democrats are going to focus on griffin a lot. he is also a big-time republican. one ever of the biggest republican donors on wall street. they're going to look for what i understand, at least this is what we're hearing as of now. things always change. potential conflicts within his investment empire. is there any sort of conflict of interest, links, between the citadel hedge fund and the securities firm which as you know bailed basically, was buying order flow from planned parenthood, a lot of people, it was this whole conspiracy theory that the reason why robin hood stopped trading in gamestop and some of those other stocks was somehow to help citadel investments and its friends in the hedge fund committee. that is what we understand going to be looked at during this hearing. ken gri

all i can say is that robin hood plays this by the books and was basically the only way we can remain in appliance. >> i appreciate your testimony. but melvin lost $6 billion in 20 trading days. let me ask you about your risk management. did your short positions exceed flow? >> no they did not. >> shorting has an important role to play in our market allowing for legitimate hedging price discovery. [indiscernible] >> i would like to thank you mother people are asked -- asking for their district. let me just ask how did you come up with the name for your company? mr. tenev: robin hood stands for lowering the barrier to entry and democratizing famines for all the access to wealthy institutions that hide network have had individuals regardless of how much money they have. >> i appreciate the answer because it is something i would also embrace. i have a 23-year-old on the others of the house who i love dearly. but they have no training no income no qualifications. how in the world could he get a million dollars worth of leverage. >> thank you, congressman. >> the leverage that we provide to our customers is less than 3% of what our customers act

top investment firm melvin capital telling abc news the hedge fund lost 53% on its investments in the month of january. they're not alone. now investors closing watching robin hood trading app with 13 million users at a median age of 31. those reddit investors criticizing robin hood which plans to limit the trading on eight stocks today to just one share purchase per customer. >> i'm going to take my business somewhere elsewhere they won't put on restrictions. >> reporter: the chaos drawing the attention of the federal regulators. in an op-ed published in "usa today" robin hood ceo writing the moves to limit trading was not because we wanted to stop people from buying these or any stocks, but because of an increase on mandatory collateral on the service. also warning, it's possible the unusual and dramatic market swings could occur again. it's not just robin hood limiting buying. a number of other platforms have restricted trading given the recent market volatility. t.j.? >> george? >>> we're follow a lot of other stories this morning, including an interview with moderna's ceo. >>> also we're talking the super bowl and what tom brady and patrick mahomes are sayi

robin hood couldn't process the trade fast enough. i didn't have enough capital to process the amount of trades that they had and such dell is bailing out. at melvinge fund that was losing money, the hedge fund lost more money. small investors are losing money but it's there -- >> sandra: but to charlie's point there is no evidence of nefarious activity or wrongdoing. i think jpmorgan even dove into this and said the markets acted appropriately and the broker did what it had to do, didn't have proper capital and shut down in the fine print told there. >> i think in the end if there are a lot of guys that are gambling. it's a proven strategy but if you go in and out. i think we can all agree with that statement. i will continue that conversation. >> john: it's nasa's most ambitious mission to mars that if all goes well will pay off today. it's the first in a row over a decade and a phil keating's live in the rover traveled over 300 million miles and people are saying, are we there yet? >> it took seven months to get there, it's all outside of the planet right now in less than three hours and should start descending to the surface so we should know

all i can say is that robin hood plays this by the books and was basically the only way we can remain in appliance. >> i appreciate your testimony. but melvin lost $6 billion in 20 trading days. let me ask you about your risk management. did your short positions exceed flow? >> no they did not. >> shorting has an important role to play in our market allowing for legitimate hedging price discovery. [indiscernible] >> i would like to thank you mother people are asked -- asking for their district. let me just ask how did you come up with the name for your company? mr. tenev: robin hood stands for lowering the barrier to entry and democratizing famines for all the access to wealthy institutions that hide network have had individuals regardless of how much money they have. >> i appreciate the answer because it is something i would also embrace. i have a 23-year-old on the others of the house who i love dearly. but they have no training no income no qualifications. how in the world could he get a million dollars worth of leverage. >> thank you, congressman. >> the leverage that we provide to our customers is less than 3% of what our customers act