Conservative talk show host Howie Carr did not hold back Thursday on The Howie Carr Show when he lashed out at the hedge fund managers trying to control the stock market and the media portrayal of recent events involving video game retailer GameStop.
“The so called ‘basket of deplorables’ have figured out how to beat the system and Wall Street and the media don’t like it,” Carr said.
Carr made his comments after users of the popular website Reddit bought stock in GameStop, after big investors on Wall Street speculated that the company’s stock prices would continue to drop.
“You have to love this story,” Carr said. “(Hedge Fund) Melvin Capital basically bet that GameStop prices would continue to drop and they would buy in at about six dollars a share. The normal people saw this as a chance to get their revenge. Now they (Melvin Capital) have to pay about 341 dollars a share. The big guys lost their shirts and I love it.”
What Carr didn’t love was the media coverage of the event.
“This is how left-winger George Soros made his money but because he works to elect liberal politicians it’s great. When regular people, many of whom I would guess are Trump supporters, do it, it has to be stopped. They (the media) act like it is the end of the world.”
Carr took particular issue with Bloomberg TV and played a clip comparing Reddit investors to those who rioted on the U.S. Capitol on January 6th. The clip says that the Reddit users were a “ mishmash of angry and frustrated people who have developed a mob mentality, just like the Capitol rioters”.
“That’s just ridiculous,” Carr complained. “From now on, every supposed tragedy is going to be compared to the Capitol Riots. It has somehow become worse than 9/11, Pearl Harbor and The Civil War. I thought we were supposed to celebrate diversity, but when people do something the media doesn’t like, it’s no longer a diverse group of people, it’s called a mishmash.”
Carr also criticized Wall Street and day trading apps, like Robinhood, for temporarily halting trading of GameStop shares to limit the losses of big time investors. According to CNBC, while the exact losses are not known, Melvin Capital has had an infusion of 3 billion dollars to “shore up financial stability”. As of Friday morning though According to The Wall Street Journal, trading of GameStop stock has resumed both on Wall Street and online.
Carr used a sports analogy to make a comparison.
“It’s like one football team who is supposed to win, but they are losing 28-0 at halftime. So the officials step in and change the rules and make each touchdown three points instead of seven so the team that is losing won’t be behind by so much,” Carr said. “It’s censorship of the market, just like censoring Twitter. I thought liberals liked the average guy, the 99 percent, but I guess not.”
