Bill Ackman Lights a SPARC & Sam Bankman-Fried Heads to Court 10/02/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 2 October 2023

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Crisis averted! For 45 days? Congress narrowly avoids a government shutdown, coming up with a weekend deal to fund the government at its current level until November 17th. But the drama doesn’t end with the deal, as Republican members of the House want to oust Speaker Kevin McCarthy over working with Democrats. Bill Ackman, Pershing Square Capital Management founder and CEO, discusses his new SPARC, a unique kind of SPAC that allows investors to know which company the vehicle is acquiring before they pledge funds. Ackman weighs in on potential interest in Elon Musk’s X, the state of the U.S. economy, the Fed’s inflation fight, and more. Plus, Jury selection for Sam Bankman-Fried's trial starts tomorrow. CNBC’s Kate Rooney reports on the next chapter following the collapse of his crypto exchange, FTX. Ahead of the trial, some of those impacted most by the bankruptcy are sharing their stories in a CNBC digital documentary. Sheelah Kolhatkar, The New Yorker staff writer, also discusses the upcoming trial of Sam Bankman-Fried and the unique relationship Bankman-Fried’s parents played in FTX. Bill Ackman - 16:36 Kate Rooney - 34:11 Sheelah Kolhatkar - 37:55 In this episode: Bill Ackman, @BillAckman Kate Rooney, @Kr00ney Sheelah Kolhatkar, @sheelahk Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pot.
0:09.0	The shutdown is off for now.
0:11.0	A last minute scramble until the next deadline 45 days from now and the
0:15.4	politics that hearken back to history.
0:18.0	Jockeben means a-hol I think and there's about eight of them. Billionaire Bill Ackman, the Pershing Square manager, is eyeing a new deal.
0:27.0	It is the return of the SPAC.
0:29.0	His new take on SPACs, his business interest in Elon Musk,
0:33.4	plus Ackman on politics and the economy.
0:36.4	I think a Biden Trump election is not good for the country.
0:39.0	I'd love for there to be a candidate,
0:40.3	the entire country can get behind.
0:43.0	And what will mom and dad say?
0:45.1	Their most important role regarding Sam
0:47.1	was the way they raised him.
0:49.2	The New Yorker's Sheila Kole Hatcar
0:51.0	on fallen crypto billionaire Sam Bankman Freed's parents.
0:54.5	He was treated as a genius, very special, intellectually precocious kid from the beginning. All that today and more.
1:04.0	It's Monday, it's October 2nd, 2023.
1:07.0	This super-sized squawk pod begins right now.
1:10.0	Stand Becky by in three, two, one, queue please.
1:16.1	Good Monday morning everybody.
	...

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