Facebooked

[Reef Badlaw]

The good news is that NASDAQ is being sued for their sloppy, unprofessionally inbred handling of Facebook-shares' opening last Friday. The bad news is that now NASDAQ-officials can officially use the I can't comment until the ongoing investigation is completed-defense, when confronted with reporters' questions.

What a mess... and the toilets are still backing-up.

I sort-of watched the prelude and the opening unfold. " The stock-price will be 38-dollars. Gee, this'll return us to the glory-days of the internet stock-boom in '98, blah blah blah... Life is grand... "

-Cut to Zuckerberg & Co., ceremoniously ringing-open the NASDAQ trading-day...

-Cut to the $38.00 price in the corner of the screen, hanging there unchanged for long minutes.

A little strange, but not too unusual... till the banners started crawling that NASDAQ suffered a 'glitch', and had to be shut-down for a few minutes. Turns-out that Facebook's price immediately plunged and its underwriters hurriedly infused cash to prop-up the price again. But it didn't work, or it worked too successfully... as the day's closing had the price at only $38.23. A mere 23-cent gain?

GM pulled 10-million worth of ads from the site.

Then came the reports that (small) traders and investors were waiting an average of 3-hours to discover if their trade/buy orders had gone through. Utterly unacceptable. -Buying at 38, then waiting to discover that one's order was approved... as the price drops.

The price today will open at $31.00. Looks like billions of eyes seeing a product-ad was hugely over-speculated.

Additionally, Facebook's pimp: Morgan Stanley, appears to've alerted its own ppl to the pending fiasco via 'insider info'. This is why small-traders and average investors get stifled during potential boon-times.

http://www.cnbc.com/id/47523622

Oops... subpoenas for Morgan Stanley;
http://www.reuters.com/article/2012/...84L1BS20120522

A comprehensive 'doom and gloom' synopsis:
http://www.marketwatch.com/story/how...omy-2012-05-22

Global economy-killer? Yes, Facebook has now been added to my list of global macroeconomic triggers (deadly unpredictable Black Swans like the dot-coms in 2000, subprimes in 2008) that the denial system driving the collective brain of American investors will simply tune out, till it’s too late. Till a crash takes the economy down again

[GamerGal]

Damn you Obama! If you didn't have those fucking liberal regulations this could happen with every stock! Why shouldn't a CEO use Insider Info to make billions while the employees are all fired? This is why that secret n*gger Muslim must go! Why, if he had his way there would have been regulations preventing what facebook did!

Damn you liberals. If a factory owner wants to lock the doors of his factory and burn it down with all employees inside so he can collect on their life insurance policies he signed them up for secretly then he should be allowed!!!

[Reef Badlaw]

Damn you Obama! If you didn't have those fucking liberal regulations this could happen with every stock! Why shouldn't a CEO use Insider Info to make billions while the employees are all fired? This is why that secret n*gger Muslim must go! Why, if he had his way there would have been regulations preventing what facebook did!

Damn you liberals. If a factory owner wants to lock the doors of his factory and burn it down with all employees inside so he can collect on their life insurance policies he signed them up for secretly then he should be allowed!!!

* becomes righteously unraveled about being trolled, inadvertently displaying the polka-dot boxer-shorts of my limited IQ *

* then piously launches-into a tediously windy history-defense of Wall Street, attempting to teach GG while showing-off to AO-visitors *

* but it all comes-off as a foolishly-contrived, poor man's Doc Velocity-rant after a double-shot of black caffeine *

In conclusion;
http://www.reuters.com/article/2012/...31725620120523

[GamerGal]

Hey, don't be mad at the truth. If we had fewer regulations this could happen with every stock and that's just the way you and your righty buddies want it. Those damned liberals and their regulations if they had more of em this couldn't happen.

[Reef Badlaw]

FB assessed their ad-revenue projection for the next few months, then decided how many shares to offer. Morgan Stanley took that info and 'packaged' it for NASDAQ. But FB had wrongly overvalued itself.

99.9% of new stocks open at their announced price and drift upward... Facebook's sank. Now everybody's being sued, as they should be. No more regs needed.

[MaximumPain]

Clearly this would have never happened if it weren't for all these regulations!!!! If the market were truly free the brokerage firm and facebook could have pulled off this whole scam with no one being the wiser. see another example of how regulations are bad for business.... The regular consumers???? Fuck them they exist only to move their money towards the top.