If you think GameStop mania was a David vs. Goliath story, listen to this episode of the podcast On Point. From news media, you may have heard about people on Reddit who collectively invested in GameStop as well as Melvin Capital, a hedge fund that had bet against the video game retailer, reporting a huge loss. In fact, there was another Goliath who profited from GameStop's wild ride. To understand who that Goliath was, you need to know how Robinhood could be free and what payment for oder flow is. Don't worry! The guest to the show, Alexis Goldstein, who is currently a senior policy analyst at Americans for Financial Reform, deciphers jargons and unravels the story.
It is so nice to hear an expert who could do her job--telling what is untold and unpacking the complexity of the matter--very well. Thank you, Ms. Goldstein!