Former FDIC chair Sheila Bair takes on Payment for Order Flow

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.3 • 1.2K Ratings

🗓️ 8 September 2021

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

The latest parry in the epic battle over payment for order flow comes from former FDIC chair Sheila Bair, who is calling on the SEC to put restrictions on the controversial practice. She joins us to lay out her case. Plus, the response from one financial services company whose business depends on PFOF -- Doug Cifu, the CEO of Virtu Financial.

Transcript

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0:00.0	Live in the Nasdaq Marcoside overlooking New York City's Times Square, this is Bass
0:05.9	Money.
0:06.9	I'm Alyssa Lee.
0:07.9	Tonight's Trader lineup.
0:08.9	Diadami, Karen Feinderman, and Pete Najarian, co-founder of MarketerBellion.com.
0:12.0	Tonight on pass, the epic battle brewing over payment for order flow for our FDIC Chair
0:17.2	Sheila Bear.
0:18.2	Coming out, swinging today, she says the SEC needs to do more to level the playing
0:22.2	field.
0:23.2	She will join us ahead.
0:24.2	Then, you'll hear from a man whose business pays for order flow.
0:27.6	Burke to CEO Douglas C. Poo will join us exclusively.
0:30.7	He says the assumptions made in Bear's op-ed are absurd.
0:34.0	We've got both sides of the debate coming up.
0:36.4	Plus, we're watching a developing story on Coinbase.
0:39.0	That stuff under pressure as the SEC takes aim while regulators are calling for a crack
0:43.4	down in its crypto lending business.
0:45.6	And later, a plot twist for AMC, the theater chain operator dropping big money and big
0:50.7	star power on its first ever nationwide TV ad.
0:53.4	But will it pay off?
0:54.4	We'll debate that.
0:55.6	We start off with a trio of earnings alerts tonight.
	...

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