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Interactive Brokers chairman Thomas Peterffy on GameStop frenzy

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Interactive Brokers chairman Thomas Peterffy told CNBC Wednesday that the U.S. financial system faced greater stress during the GameStop trading frenzy than is generally recognized.

“We have come dangerously close to the collapse of the entire system and the public seems to be completely unaware of that, including Congress and the regulators,” Peterffy said in an interview on “Closing Bell.”

Peterffy’s remarks came one day before the House Financial Services Committee was set to hold a hearing examining the epic short squeeze in GameStop that transpired in late January. Among those set to testify are chief executives of stock-trading app Robinhood and hedge fund Melvin Capital, which had…



Source cnbc.com

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