Bill Ackman predicted that Bank of America will buy Signature Bank on Monday. The billionaire activist investor who heads Pershing Square Capitol also said that he thinks the expected indictment of former President Donald Trump in a New York court is a “mistake,” saying that he thinks that in any criminal proceeding against a former president, the standard of evidence must be really high.
On the Donald Trump case, Bill Ackman tweeted, “The standard for criminally indicting a former president and presidential candidate has to be extraordinarily high. Based on the facts that have been alleged here, the Daniels case does not meet the test. The Manhattan DA should back down. “
Donald Trump has himself said that he expects to be arrested on Tuesday. Rumors have abounded that New York prosecutors are about to get an indictment in a case involving alleged payments of hush money during Trumps 2016 presidential campaign to a pornographic film star named Stormy Daniels who had an affair with him.
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As for Signature Bank, Bill Ackman tweeted, “I am hearing that Bank of America is going to buy Signature Bank on Monday. Unless and until we can protect uninsured deposits, the cost of capital is going to rise for smaller banks pushing them to merge or be acquired by the SIBs. I don’t think this is good for America.”
Signature Bank failed and went into receivership on March 15.
According to his official bio, Bill Ackman is an SEC registered investment adviser founded in 2003. Pershing Square is a concentrated research-intensive fundamental value investor in long and occasionally short investments in the public markets. Prior to forming Pershing Square, Mr. Ackman co-founded Gotham Partners Management Co., LLC, an investment adviser that managed public and private equity hedge fund portfolios. Prior to Gotham Partners, Mr. Ackman began his career in real estate investment banking at Ackman Brothers & Singer, Inc. Mr. Ackman received an MBA from the Harvard Business School and a Bachelor of Arts magna cum laude from Harvard College.