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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFacebook Banks Said to Make $100 Million on Stabilizing Stock
Facebook Inc. (FB)s underwriters for its initial public offering made gains of about $100 million through their work to stabilize the shares in public trading, said a person familiar with the matter.
The gains will be shared by all banks on the IPO syndicate, said the person, who declined to be identified because the process was private. Morgan Stanley (MS) will use some of the gains to reimburse clients who lost money because of glitches in trade execution, the person said.
http://mobile.bloomberg.com/news/2012-05-23/facebook-banks-said-to-make-100-million-on-stabilizing-stock.html
msongs
(67,458 posts)JDPriestly
(57,936 posts)and not really investing in a healthy economy in the US.
Wall Street traitors have become parasites. They have overtaken their host -- our country's economy. Like white flies on the leaves of a hibiscus bush, hedge fund managers and the traders in the too-big-to-fail banks are sucking Main Street and the whole world dry.
It is time that someone gather the courage to point out that Wall Street as we know it has outlived its usefulness. Wall Street and banking -- the entire financial sector -- must either be drastically reformed or we will all, Wall Street as well as Main Street, fail.
The economy is one flowing stream of goods and services and investment. Wall Street is trying to dam the flow. When you put up an economic dam, the economy just comes to a halt. And that is what is happening.
I would wish these greedy monsters failure, but their failure will be ours. Their failures will mean failure for our children and grandchildren.
I am not a Socialist, but when I see what Wall Street has done and continues to do, I have to question how and even whether we can correct the current system. What to do?
This IPO shows the extent of the corruption . . . . It is frightening.