What are Special Purpose Acquisition Companies or SPACs?

Executive Summary

• SPACs are when private equity firms self buy or sell their own portfolio companies.
• This strange investment vehicle is a testament to the corruption in private banking.

Introduction

SPACs are designed to allow for corrupt acquisition. This is explained in the following quotation.

“Mergers tend to lead to layoffs, higher prices, less innovation and research, and a more brittle supply chain, and they amplify the control monopolies have over our society. There are even weird new ways of self-dealing via mergers, like the trend of private equity funds selling their own portfolio companies to themselves, and the new cheating special of 2021, the special-purpose acquisition companies, or SPAC…the FTC has pretty much allowed big pharma to get away with whatever it wants, which is one reason medical prices keep skyrocketing.”

Source: Matt Stoller

https://mattstoller.substack.com/p/is-biden-accidentally-giving-the/