On The Facebook Debacle
Here’s an explanation of Facebook’s IPO and how the stock market works in general:
1st — corrupt bankers picked to sell the stock.
2nd — corrupt bankers fill media with sales/corporate propaganda.
3rd — corrupt bankers make IPO unavailable to anyone but the rich.
4th — corrupted market claims “technical difficulties” for first 2 hours stock is traded.
5th — corrupt banks dump stock leaving customers/investors with huge losses.
6th — corrupt banks spread propaganda supposedly explaining what happened.
7th — corrupt financial professionals/economists/writers all invent more lies fitting their corrupt paradigm.
8th — corrupt politicians feign concern, collect more campaign money.
- Facebook IPO: God Help Us All – TheStreet — Daniel Dicker
…Goldman Sachs(GS_) will reap a fortune and perhaps make their year on this one. Pricing came out at $38, well above range even with the increased float, allotments were larger than expected inside the syndicate and it seems unlikely that even those inside syndicate players will benefit much.$105 billion of precious capital is going to go into the pockets of VC firms, investment banks and insiders who will not recycle that cash back into the capital markets — they will more than likely buy a second, (or a third) house, a $100 million yacht and a majority stake in a sports team.
Economic & The Economny
- Joe Weisenthal writing for Business Insider
- Every Serious Person Needs To See This Chart – Business Insider
- Facebook Goes Back To Getting Clobbered – Business Insider
- Fight At The Chicago Mercantile Exchange – Business Insider
- Former Bush Speechwriter Reveals What Will Happen To Spending Under President Romney – Business Insider
- Greek Polls Moving The Market – Business Insider
- Greenshoe – Wikipedia, the free encyclopedia
A Few Thoughts About Moretti’s “The New Geography of Jobs” « The Reality-Based Community- Amazon.com: The New Geography of Jobs — Enrico Moretti
- The New Geography Of Jobs: Where You Live Matters More Than Ever – Forbes
- Enrico Moretti on What Workers Lose by Staying Put – WSJ.com
Politics
- Fox Mangles Data To Claim “The Poor” Are Getting “Richer” | Media Matters for America
- Bill Maher Takes a Shot at the Birthers With Parody on Romney’s ‘Wiferism’ Scandal | Video Cafe