Morgan Stanley, JP Morgan and Goldman Sachs Under Investigation for Facebook Shares

http://www.guardian.co.uk/technology/2012/may/22/facebook-ipo-banks-investegated-secret

So they knew the shares were over priced and only shared the information with big investors, not your average man in the street.

These banks should be pulledd over the coals. I wonder what other dodgy practices they are involved with on a daily basis, which support large investors at the expense of ourselves and our retirement funds.

Sickening.

Let the GOPers defence begin!

 

...and just who gets the job of adjudicating what is ethical and what is not?


Dirty little secret: Your retirement fund IS one of the major investors. "Institutions" as retirement and other funds are called dominate Wall Street.

 

Do you know anyone with half a brain who didn't?

 

Not if my retirement fund is managed by myself.

And the FCC ajudicates the rules and one of those rules is to inform everyone (not just your investor buddies) about the facts. They broke the law here, morals are nothing to do with it.

 

That's not the point. They broke the law and did not disclose the data to everyone, just their investor mates.

Are you trying to defend this?

 

It's indefensible. They are destructive and corrupt. However, they have the very best attorney's in the world and will come out unscathed.

 

You "think" they broke the law. This is America, people are subject to an investigation and then a trial before it can be said "they broke the law." No one has enough information to really have an informed opinion about the case....since it was just opened. Anyone with even an iota of financial understanding realized that Facebook was extremely overvalued.

 

Actually that is the point. I'm all for reasonable government oversight but at a certain point people have to be adults and take care of themselves. A bunch of idiots buying Facebook stock does not pose systemic risk. It doesn't put tax payer money at jeopardy. I am far more concerned about bringing back Glass Steagall and making derivatives trading transparent as much as possible.

The SEC is an under resourced agency. They have to prioritize. Was there something illegal going on with the Facebook IPO? Maybe. Is it something that demands front page attention... no.

Grown up adults decided that Facebook was worth more than McDonalds, Amazon, Disney and VISA. You really think the government needs to protect people from that type of stupidity?

 

is that your new threshold for securities fraud ?

 

The problem is that they've made a bundle from illegal activities and there'll be no negative impact to them. So where's the incentive to act legally?

 

Nope. If you read my ENTIRE post you will see that is my new standard for prioritizing things at an under resourced agency.

 

Morgan Stanley, JP Morgan and Goldman Sachs.........hmmmmm......

Top Obama Donors



Since Wall Street and The Banks have Obama in their pocket.......Im betting nobody gets prosecuted.
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A lot of those organizations actually fund both sides.

 

So much for Change......all we got was more of the HusSame....
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romney top donors...


Goldman Sachs $573,080
Bank of America $398,850
JPMorgan Chase & Co $393,825
Morgan Stanley $373,850
Credit Suisse Group $317,410
Citigroup Inc $301,550
Kirkland & Ellis $248,052
Barclays $228,400
PricewaterhouseCoopers $214,250
Wells Fargo $204,300
HIG Capital $191,000
UBS AG $190,500
Blackstone Group $182,550
Bain Capital $149,000
Marriott International $132,827
EMC Corp $129,200
Citadel Investment Group $127,125
Elliott Management $125,975
Deloitte LLP $124,250
Bain & Co $123,050

http://www.opensecrets.org/pres12/contrib.php?id=N00000286

 

Yep, all financial firms donate to presidential campaigns. Wonder why that is?

 

So Wall Street and the Banks gave Obama more........is that what your getting at?

Or is this another case of "Its only wrong when a Republican does it"?
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im saying they give their money to both parties...normally more to the ones in power

 

Ahhhh.....a voter of Hope and Change.....finally comes to grips with the complete fraud and utter lie he voted for.
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it was only you folks who branded him the messiah. hes still a politician who has to get elected....and was and is the best option available by a wide margin

 

Anyone notice the universities getting in on the bribery action? You know (*)(*)(*)(*) well that is to keep the easy to get loans flowing into their pockets.

 

Surely Obama will get to the bottom of this and prosecute.........just like he did with all those Bankers he promised to bring to justice......



.....A Complete Fraud and Utter Lie--Barack HusSame Obama
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.....Im betting Obama is sending investigators over to Chase, Morgan Stanley, and Goldmann Sachs as we speak.....to collect the monthly bribe.
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After many months of negotiation, 49 state attorneys general and the federal government have reached agreement on a historic joint state-federal settlement with the country’s five largest loan servicers:

Ally/GMAC
Bank of America
Citi
JPMorgan Chase
Wells Fargo
The settlement will provide as much as $25 billion in relief to distressed borrowers and direct payments to states and the federal government. It’s the largest multistate settlement since the Tobacco Settlement in 1998.

 

Amen, brother, amen!

Rule #1: Don't let other people (*)(*)(*)(*) around with your money.

 

....especially Bureaucrats and Government.
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