SPACS were just a new solution to an old problem: Dumping overpriced assets to small investors. I've seen it all through my dad's investments, which local banks

SPACS were just a new solution to an old problem: Dumping overpriced assets to small investors. I've seen it all through my dad's investments, which local banks sold him. Younger people don't fall for that trick anymore, so et voila, SPACs are born. Same shit, new name. There was an article just a few weeks ago in the FT, that showed how PE firms are pumping up company prices by buying companies they already own. At the end this garbage needs to be dumped on someone, otherwise why bother.