Perhaps more troubling, he added, are weaker companies looking for SPAC deals. There is “a set of companies floating around that are not good companies that are looking to get SPACed and get their money out,” Mr. Hartz said. On who gets hurt when SPACs go wrong:Retail investors: “In a natural market, low-quality companies should naturally run out of cash,” Mr. Hartz said. Critics say that structure draws sponsors looking for a quick buck. No Supreme Court hearing has ever been filmed, though Congress has been trying to get cameras in federal courts since 1937.

Source: New York Times March 30, 2021 11:37 UTC