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

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