Kurt Nimmo of Infowars thinks that the Facebook IPO was designed to enrich its big clients such as Goldman Sachs and that the SEC should be investigating the IPO. Besides which Nimmo believes Facebook is a "data-mining" tool where users of FB readily reveal large amounts of information about themselves and others to be used by--whomever.
Henry Blogget of Business Insider has his own take on what happened to cause Facebook's value to tumble. He says "selective disclosure" unfairly guaranteed large clients had information that small investors did not.
In any case, Morgan Stanley, Goldman Sachs and JP Morgan are being sued by investors who claim "they were misled in the purchase of the social network firm's stock." What a lot of misleading we hear about when Fraud should be the word.
Goldman Sachs raised $1.09 billion selling stock in Facebook's IPO and, immediately after the IPO, it cashed out some of its holdings making $235 million.
So what happened to Goldman's attempt to improve its reputation? Nothing!
Facebook IPO: CIA and Goldman Sachs Take the Suckers for a StrollRead the entire article here
By Kurt Nimmo - Infowars.com
The fact Morgan Stanley was the lead banker on the Facebook IPO should have set off alarm bells for investors in the NASDAQ casino. The deal had SUCKER’S BET spray-painted all over it. But like the infamous dot-com bubble and any other number of pump and dump schemes rolled out by the banksters, the Facebook IPO was designed to enrich a small number of insiders like Goldman Sachs and take the clueless horde on the outside to the cleaners.
Even cynical observers are willing to give the trendy stock time to “perform” when it is obvious the Facebook “offering” is simply more toxic waste proffered by people who specialize in multi-billion dollar scams and snake oil tours.
“Maybe I am a grouch,” writes the New Yorker’s John Cassidy. “But it all sounds suspiciously like an inside job, in which the last ones in, the ordinary investors, are the saps. At the very least, this entire issue is something that the authorities – the S.E.C., but also the Nasdaq and other stock exchanges – should be looking at closely.”