SEC proposes law that would make SPAC (privately created hedgefunds that acquire private companies to make public) under the same regulations as an IPO (normal way of taking a company public). Claims to protect investors, but IPOs regulations don't protect either. So, why? - Kotaku In Action 2

SEC proposes law that would make SPAC (privately created hedgefunds that acquire private companies to make public) under the same regulations as an IPO (normal way of taking a company public). Claims to protect investors, but IPOs regulations don't protect either. So, why? (archive.ph)

posted 2 years ago by GeneralBoobs 2 years ago by GeneralBoobs +18 / -0

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– GeneralBoobs [S] 6 points 2 years ago +6 / -0

I know it's not crazy if you look at it at face value. The problem lies with all those IPOs promote bullshit and lies and then their stock plummets when it comes out a short time later. Then there is never any action brought against them. I don't support the SPACs, I think the idea of allowing firms like Goldman Sachs control IPOs is fucking lunacy. This seems like a way to funnel money to Goldman, JP Morgan, Citi, etc. and punish Trump at the same time.

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– deleted 4 points 2 years ago +4 / -0

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– GeneralBoobs [S] 3 points 2 years ago +3 / -0

Then this is a bandaid regulation, probably. No real regulation, just give the government their cut.

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