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Here’s Michael Bolton singing about payment for order flow - The Verge
Feb 23, 2021 50 secs
But I guess Public — which refers to itself as “the investing social network” — was envious that Robinhood was getting all the press attention, so it hired Bolton to revamp his 1989 hit “How Am I Supposed to Live Without You.” The new version is a lament about payment for order flow, which was recently the subject of Reddit outrage and a point of inquiry in a House hearing.

The practice Bolton is lamenting is a controversial one, payment for order flow, which was recently the target of Reddit’s fury.

(Most of Reddit’s anger assumed front-running retail trades was the entire point of payment for order flow.) The payments are part of why apps such as Robinhood can offer trades for free.

After the uproar around Robinhood during the GameStop debacle, Public announced it would no longer engage in payment for order flow.

Last week, a day before Robinhood was quizzed about payment for order flow in a largely incoherent House subcommittee hearing, Public announced it had raised $220 million.

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