Robinhood, as is the case with many brokers, directs trading flow to market makers in exchange for a fee. It makes it possible for Robinhood to execute commission-less trades for its customers.
That wasn’t good enough for AOC, who momentarily lost sight of why the hearing was taking place. She argued that Robinhood ought to direct all the proceeds from these transactions to its customers, thus proverbially taking from the rich and — yep — giving to the poor.
Just one hitch. Robinhood customers are the ones getting rich by colluding against the big shorts. But let’s not get bogged down by silly details when there’s a story to sell her constituents.