The Trump Lawsuit’s Known Unknowns & New “Shittrix” Drama

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Happy Sunday, and welcome back to Dry Powder.

The civil lawsuit New York Attorney General Letitia James brought against Donald Trump last week was years, if not decades coming. By all accounts, she should be commended. But the inside conversation on Wall Street is that the case contains a potentially fatal flaw. In today’s column, some notes and fresh reporting on the inside chatter surrounding the suit, plus a look at one of the worst Wall Street deals of the century so far, and a eulogy for the reign of the “SPAC King.”

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The Trump Lawsuit’s Known Unknowns & New “Shittrix” Drama

Notes on the hottest topics on Wall Street: the between-the-lines on the Trump suit, a private equity dumpster fire, and the end of SPACistan.

WILLIAM D. COHAN

On the one hand, New York Attorney General Letitia James must be applauded. She conducted a thorough, three-year investigation of the Trump Organization, relying primarily on documents, emails, and other correspondence and has made a compelling case for what many on Wall Street already knew about Donald Trump, the businessman: that he is a...

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