Americans for Financial Reform

News Category: Blog

Blog: Wall Street Private Equity Gets Bigger in Every Way

Wall Street’s private equity barons smashed previous records to complete $1.2 trillion worth of acquisitions in the United States in 2021, an all-time record. Globally, the industry gobbled up companies worth $2.1 trillion. The new acquisitions and the massive debts the industry generates is creating the risk of “the dotcom boom meeting with the financial crisis,” according to one insider.

Blog Post: SPAC fantasies unravel for electric truck company Lordstown Motors

Lordstown Motors was supposed to be a promising electric vehicle startup backed by General Motors that would help revolutionize low-emissions vehicles while also revitalizing America’s “Rust Belt”. Instead, many of its promises, exploiting the loopholes in the SPAC model, were soon found to be untrue, reiterating the important changes that need to be made to the business model of companies taken public through SPACs.