The Feds are already probing the Facebook deal! Two days – and they are on it! It is pretty obvious that the banksters have lost their power – or maybe their money – or how about their pants? If they are so harmless now, their complete fall, for which we have watched and waited so long, is surely on its way! ~J
May 23, 2012
by AVIE SCHNEIDER
Source: NPR.org/blogs [3]
[3]
Richard Drew/AP
The pillars of Wall Street are shaking.
The reputations of JPMorgan Chase, Morgan Stanley and Goldman Sachs have all been taken down a notch or two in recent days and months. If you’re keeping up, the latest black eye came in the wake of last week’s flubbed Facebook IPO.
Regulators are looking into whether Morgan Stanley, the lead underwriter of the huge stock offering, told some clients of an analyst’s lower revenue forecasts for Facebook weeks before the IPO. The information wasn’t widely disclosed before the stock went public on Friday. And on Wednesday, a Los Angeles law firm filed a lawsuit [4] ”seeking class action status against Facebook and its underwriters alleging inadequate disclosure of key information,” Reuters reports [5].
read more:
http://jhaines6.wordpress.com/2012/05/23/wall-street-titans-behaving-badly/ [2]