A bunch of overpriced tech firms isn't the kind of systemic problem that massive fraud in the 'AAA' mortgage sector was.
It is, of course theoretically possible that some crooks repackaged and sold a bunch of equities as a 'safe' investment instrument to a bunch of morons, on a truly gargantuan scale. But if that has happened, nobody has heard about it.
> It is, of course theoretically possible that some crooks repackaged and sold a bunch of equities as a 'safe' investment instrument to a bunch of morons, on a truly gargantuan scale. But if that has happened, nobody has heard about it.
I'm pretty sure it has not only happened but pretty much everyone is aware of it.
SPACs repackage garbage equities into other garbage equities, with a few institutional investors hoping to make a quick buck on their equivalent of the IPO pop.
They are also a tiny percent of the overall equities market, and are largely seen as a failed experiment. They don't seem contagious.
