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Wall Street just heard a record scratch — and it could be a sign that the party in the stock market is shutting down

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Summary List Placement

Wall Street just heard a record scratch — loud, noxious and impossible to ignore. 

Since 2019 investors have been clamoring for Special Purpose Acquisition Companies (SPACs), but a combination of legal issues, regulatory scrutiny, and abysmal performance has made it impossible to ignore what has always been true of these formerly forgotten investment vehicles: their structures make them perfect vehicles for fraud and abuse.

SPACs — also known as “blank check companies” — are public shell companies where a bunch of rich investors come together, raise a bunch of money, and seek out a private company to buy details ⇒

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