Billionaire Barry Sternlicht is involved in a SPAC deal with his own firm, Porticoes Capital, which aims to acquire failed banks closed by the FDIC. The move comes as 52 banks on the FDIC's 'Problem Bank List' totaling $66.3 billion present an opportunity for change.
Porticoes Capital is betting on busted banks, seeking to buy failed lenders closed by the FDIC, per @FinancialTimes. With 52 banks on the FDIC's 'Problem Bank List' totaling $66.3 billion, change is on the horizon. https://t.co/sh6ckThrT8
Porticoes Capital is betting on busted banks. The blank check company is seeking to buy failed lenders that are closed by the FDIC, according to regulatory filings reported on by the @FinancialTimes. With 52 banks on the FDIC's 'Problem Bank List,' totaling $66.3 billion, change…
Remember his SPACS? https://t.co/VwzUaqppHJ
The perfect capitalism cocktail 🍸 - Blank-check firms & failed Regional Banks 🙌 "Porticoes Capital will seek to take over banks closed by the Federal Deposit Insurance Corporation, the US regulator" (Note: deleted prev tweet that called it a SPAC- edit button's failing) https://t.co/ISiGAJFzdQ
Here we go: the perfect capitalism cocktail - SPACS & failed Regional Banks 🙌 https://t.co/iPSSpZrhlP
Billionaire Barry Sternlicht Is Doing SPAC Deal With Himself https://t.co/9k5ByyDQVE https://t.co/8mvjAH2viw