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Most regulations in the United States exist because someone before has abused the system. That's why the "libertarians" love "dismantling of the regulatory stat
by renegade-otter 2y ago
Most regulations in the United States exist because someone before has abused the system. That's why the "libertarians" love "dismantling of the regulatory state" so much - it's in the way of fleecing the rubes.
For example, Trump Media would have never been possible just a few years ago, but now we have SPACs - a legal fraud scheme, so we don't really need Texas for that, but go ahead, have fun with a "wild west" exchange. It's not going to go sideways, no no.
- tombert 2y agoI don't really know what I'm talking about here, but haven't SPACs existed for like 30 years?
- renegade-otter 2y agoYou are right, but their rise is not accidental. The appetite for risky investments, MEME stocks, and companies not vetted by the rigorous S-1 IPO application process has grown. https://www.villanovalawreview.com/post/1691-spac-to-reality-the-rise-fall-and-possible-future-of-spacs https://www.villanovalawreview.com/post/1691-spac-to-reality... "SPACs are not new and have existed for decades, in which they were historically used by small companies that had trouble raising capital on the open market via IPOs. However, in recent years, fueled by the market volatility following the Covid-19 pandemic, SPACs have become more mainstream." So, yes, while LEGALLY an SPAC could have existed a few years ago, investors never really seriously considered them as a safe investment.