This president has acted like he was owned by the cartels since day one. Good luck to any peace he thought that would bring. Seems like a disaster for their future in the long-term.

I don’t really understand this, either. Other than these new SPACs being the cutting edge of fraud or some kind of white-collar crime. Here’s some interesting info (and comparison with Reddit IPO).

SPACs were supposed to be a quick and easy way for a company like Trump Media & Technology Group to go public, but it hasn’t worked out that way.

Instead, they’ve developed a reputation as a kind of back-door IPO for companies that probably couldn’t withstand the scrutiny involved with a conventional listing.

Many of the highest-profile SPACs, including Nikola, Virgin Galactic, and BuzzFeed, are now unloved penny stocks.

Gov Abbott in Texas tried this desperate stunt in 2023. Only one state alone, but it was still a clusterfuck. Anyone relying on goods from Mexico got fucked (tons of things, but esp. perishables, grocery stores). Cost the state and businesses millions. He gave up pretty quickly, the pathetic little piss baby.