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GameStop stock rally gives policymakers opportunity for legislation

Jon Lieber, who leads Eurasia Group's coverage of political and policy developments in Washington, offers insights on US politics:

First question. Stonks! Will the GameStop stock rally result in new regulation on Wall Street?

The answer is probably, but the interesting thing is, we have no idea what form that regulation might take. The interesting thing about this storyline around GameStop is that the run-up in prices, driven by social media chatter on Reddit, against hedge funds who had shorted the stock, opens up a whole can of worms for how you want to solve the issue, and is most likely going to be an outlet for members of Congress preexisting biases. If you want to regulate hedge funds, well, here's an excuse to do so. If you want to implement a financial transaction tax, this is your opportunity. If you're concerned about consumer protection, data privacy, this could be a hook to get into those issues as well. So, this is a headline grabbing event that's probably going to fade out of the news in a week or so, but it's going to stay relevant to policymakers for several more months, could potentially result in new legislation, or new regulation from the SEC based around investor protection and market structure. So, stay tuned. We're going to be hearing about GameStop for a long time.

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Ending the filibuster: Senator Chris Coons' changed views & a Biden administration

In a new interview with Ian Bremmer for GZERO World, Delaware Senator Chris Coons, once an ardent defender of the filibuster, explains why he's had a change of heart on the procedural policy. The filibuster prevents a simple majority from passing legislation in the Senate, and has been a tool that Coons says allowed Sen. Mitch McConnell, then Minority Leader, to "use the power of the minority to thwart the Obama Administration's agenda." Coons says, should VP Biden win the 2020 election, "I'm not willing to sit by for four years and watch an entire administration lose the opportunity to make real change."

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