Hosted by Fox News Tucker Carlson hit CNBC anchor Andrew Ross Sorkin as a “professional hedge fund guy” on Thursday after Sorkin appeared to defend hedge funds and question the motivation of Reddit small investors in the air.
Speaking on CNBC, Sorkin said he was concerned “that this is a pump-and-dump system that is effectively covered when Mother Teresa arrives at the scene.”
“I think there are real underlying problems with the system that need to be solved. I do not want to protect the system. I love seeing the little guy beat the big guy as much as anyone. But what I wonder is if these people are trying to” hold on ” at the man “will ultimately hold on to themselves,” he continued.
Carlson sarcastically pondered where Sorkin was “the last dozen years when the central bank shoved trillions into Wall Street” and mocked his argument, arguing that the issue of “humiliating” hedge funds for Sorkin is that it “only hurts the people who do it.”
Carlson continued to imitate Sorkin, telling Reddit investors to “stop this nonsense immediately.”
The Fox News host’s comments come on the heels of a two-pronged backlash against Wall Street after they lost billions of dollars following a concerted effort by a group of independent investors on Reddit to buy shares in GameStop in an attempt to counter short-term hedge fund calls. . Shortly afterwards, GameStop’s share rose by more than 1,000%.
In response, the Robinhood investment application stopped buying Gamestop as a “safety measure” due to “volatility” in the market. Still, critics claim that Robinhood’s actions may have been illegal market manipulation and a direct response to Wall Street losses.
In his introductory monologueCarlson said the situation is another reason many Americans know Wall Street and the stock market is a “rigged game” for the rich.
“As much for the free market as you always hear about. There’s nothing free about it. It turns out what Wall Street really hates is trade with outsiders, the idea that people outside their world can get rich. There’s one thing they can not stop , he said.
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