Typical example of a not bad idea gone awry. SPACS were a quicker way to take a private company public. Usually the losers were all "accredited" so who cares. My concern is that it is very difficult to go public and there are far fewer public companies available for investors (accredited or not). Remember the Wilshire 5000? Now it is bar…
Typical example of a not bad idea gone awry. SPACS were a quicker way to take a private company public. Usually the losers were all "accredited" so who cares. My concern is that it is very difficult to go public and there are far fewer public companies available for investors (accredited or not). Remember the Wilshire 5000? Now it is barely 4,300. And with the popularity of stock buybacks, it seems there is so little public equity for anyone to buy.
Similar to what I was thinking. Because of Sarbox going public is too costly and too much of a hassle so companies have to use SPAC's to raise money on public markets. What a disaster Sarbox is....formed to avoid situations like Enron, which had a bunch of shell companies to hide accounting shenanigans, now Wall Street is openly creating overvalued shell companies to get around Sarbox BS.
Ha! Dodd Frank. Forgot about that one. We could just get rid of Gramm-Leach-Bliley and bring back Glass-Steagal....nah, let's just do this Dodd Frank thing and then Wall Street will keep sending us money and hookers.
Typical example of a not bad idea gone awry. SPACS were a quicker way to take a private company public. Usually the losers were all "accredited" so who cares. My concern is that it is very difficult to go public and there are far fewer public companies available for investors (accredited or not). Remember the Wilshire 5000? Now it is barely 4,300. And with the popularity of stock buybacks, it seems there is so little public equity for anyone to buy.
Similar to what I was thinking. Because of Sarbox going public is too costly and too much of a hassle so companies have to use SPAC's to raise money on public markets. What a disaster Sarbox is....formed to avoid situations like Enron, which had a bunch of shell companies to hide accounting shenanigans, now Wall Street is openly creating overvalued shell companies to get around Sarbox BS.
I was toggling with the lead in...idiotic vs abused..... you both make good points.
Idiotic read funnier to me
Worst bill ever. Boat anchor on the economy. Honorable mention: Dodd Frank.
Ha! Dodd Frank. Forgot about that one. We could just get rid of Gramm-Leach-Bliley and bring back Glass-Steagal....nah, let's just do this Dodd Frank thing and then Wall Street will keep sending us money and hookers.