| Having a $2 billion pot of cash is pretty nice, but what if shareholders told you that cash is really worth about $15 billion? It sounds like a great problem to have, but it creates complications, too. This is essentially what's happened to Churchill Capital Corp. IV, the largest of Michael Klein's seven special purpose acquisition companies. CCIV, the ticker by which the former Citi banker's SPAC is known by Redditors and other retail fans, is at the center of the stock market's latest bout of speculative mania. As with Tesla Inc., this one also involves an electric-vehicle company. Churchill Capital IV raised a bit more than $2 billion in an initial public offering last summer by selling shares for $10 apiece, the standard price for most blank-check companies. Those shares now trade at $58, even before the SPAC has agreed to a takeover or said what the terms of a deal might be. SPACs are listed vehicles used to acquire promising companies, thereby taking them public. Most trade close to $10, at least until they've announced a merger, so what's going on with Churchill? Read the whole thing. Citi Can't Have Its $900 Million Back — Matt Levine There Will Always Be an England, But Not a U.K. — Max Hastings Toyota Broke Its Just-in-Time Rule Just in Time for the Chip Shortage — Anjani Trivedi Four Financial Goals for People in Their 40s — Farnoosh Torabi Blame Texas Exceptionalism For This Crisis, Not Green Energy — Julian Lee The EU Is Much Less Wonderful Than It Thinks — Martin Ivens Covid Housing Boom Is Even Bigger Than Imagined — Brian Chappatta Saudi Arabia and the UAE Are on an Economic Collision Course — Bobby Ghosh Bitcoin's $50,000 FOMO Is Overpowering Bankers — Lionel Laurent This is the Weekend Edition of Bloomberg Opinion Today, a roundup of the most popular stories Bloomberg Opinion published this week based on web readership. | 
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