Mohamed A. El-Erian , Columnist

4 Questions Lawmakers Should Ask About GameStop Drama

The House Financial Services Committee has a lot of different market angles to explore at a hearing on Thursday.

February 17, 2021 at 1:30 PM UTC

Mohamed A. El-Erian is a Bloomberg Opinion columnist. A former chief executive officer of Pimco, he is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE; and chair of Gramercy Fund Management. He is author of “The Only Game in Town.”

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Photographer: Tiffany Hagler-Geard/Bloomberg

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A hearing on Thursday by the House Financial Services Committee promises to provide insights into what happened last month — as well as what could have happened — during what many labeled the retail investor uprising. While it is likely to produce many headlines, it is unlikely to arm regulators with clear guidance given the complex competing issues in play.

I can think of at least four reasons for lawmakers (and regulators) to be interested in an episode that captured attention well beyond financial markets: