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The sordid history of SPACs and 'blank check' IPO funds

Someone on Wall Street ought to erect a statue to Henry Villard.
Villard made the discovery that if you don’t tell investors how you’re going to spend their money, they get more eager, not less.
Seeking to raise several millions of dollars in capital to take over a company but unwilling to reveal his target for fear of driving its price beyond his reach, Villard sent out a prospectus for a “blind pool,” stating that he would reveal “the exact nature” of his plans 90 days hence.
Perhaps fueling the hype are.press reports that focus on a few successful, high-visibility SPACs. ....

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Christmas was low-key in the Lincoln White House

Christmas in the White House in the 1860s was a far cry from the ornate displays of decor familiar to Americans today. During the Lincoln administration, the holiday was celebrated in low-key fashion.
Celebrations of Christmas in those years were far less prevalent than today, and the White House was no exception. The first indoor Christmas tree at the White House did not appear until 1889, and the first outdoor tree lighting was not held until 1923. For President Lincoln, December 25 was often a working day.
Those who did celebrate Christmas in the era often viewed the day as a social occasion. As president-elect in 1860, Lincoln was consumed with a steady stream of visitors at his Springfield home. Reporter Henry Villard, one of many seeking Lincoln s attention, wrote that a party of St. Louis gentlemen all but monopolized the attention of the president-elect. ....

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