Greenlight's Einhorn says 'quasi-anarchy' rules the market: At the Open

Wall Street is operating with regulators in absentia, which was underlined by the post mortem discussion of the GameStop (GME) squeeze, Greenlight Capital founder David Einhorn says.In the hedge fund's Q1 letter, Einhorn says that "quasi-anarchy appears to rule in markets," with no financial fraud prosecutors, leaving rule-breakers and those engaged in "malfeasance" little to fear."Many who would never support defunding the police have supported - and for all intents and purposes have succeeded - in almost completely defanging, if not defunding the regulators," he says.Save for an SEC visit to Michael Burry, who tweeted warnings about market trends, for the most part "there is no cop on the beat," Einhorn adds.His thoughts on the GME squeeze include:Rules about fraud and manipulation must be followed, "but investors discussing why they think GME (or any other stock) should go up or down should be encouraged" and nobody should be dragged in