Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
Posted on 01/17/2011 1:38:22 PM PST by EBH
Goldman noted that the transaction has received heavy media attention in recent days and said "in light of this intense media coverage, Goldman Sachs has decided to proceed only with the offer to investors outside the US."
"Goldman Sachs concluded that the level of media attention might not be consistent with the proper completion of a US private placement under US law," it said.
US securities law bars public promotion of private offerings and the Facebook deal has already reportedly attracted the attention of the US Securities and Exchange Commission (SEC).
Goldman stressed that the decision to limit the offering to non-US offshore investors was "based on the sole judgment of Goldman Sachs and was not required or requested by any other party."
(Excerpt) Read more at news.yahoo.com ...
Trying to drive up demand by making people think they can’t get any?
I personally wouldn’t touch this IPO with a hundred foot golden pole.
remember the South Park episode about Cartman NOT letting any people in his “amusement park”? Same thing applies.
The democrat party Wall Street regulation has destroyed the US financial industry dominance in the world.
We cannot even sell a US high tech company stock here since it will violate the Obama Regime’s tyrannical rules.
I would be careful about Facebook and Goldman Sucks anyway knowing Lloyd is a full blown Socialist supporter of obamas.
Barack’s Wall Street Problem is Now America’s
http://www.noquarterusa.net/blog/2008/09/21/baracks-wall-street-problem-is-now-americas/
“Neither Mack nor Dimon is likely to support the president again. Blankfein, a lifelong Democrat, probably falls into the camp of Masters of the Universe who will quietly continue to support the president but won’t make many public comments or host big fundraisers. “
http://dyn.politico.com/printstory.cfm?uuid=2A8140B2-C586-FED2-2F5B406630C0DD88
And lol about Dimon what a show he told obama how to talk to the Bankers and he visits him a lot at the White House even after obama’s faux outrage at the fat cat bankers.
Obama, Dimon Met at White House to Talk Economy, Official Says
December 08, 2010
Hey...maybe that wikileaks bank thing might come in handy after all...
Me either.
JPMorgan CEO Jamie Dimon Donates Serious Cash to Democrats
http://www.opensecrets.org/news/2009/07/jpmorgan-ceo-jamie-dimon-donat.html
Yes I know I would like to see it. I have mixed feelings about that whole Wikileak thing anyway I thought it was great that the world found out how the other Arab countries really feel about Iran.
I also noticed the liberal’s actually thought of him as a hero until he said 9/11 was not a conspiracy then their tune began to change and right after it was announced there would be a leak about a major Bank who everyone said was BOA (so Jamie Dimon’s banks) that’s when they wanted him arrested not before.
Thanks Sarbox!
Long arm of the law when the fleecing happens is the reason.
If that is your definition of a high tech firm I have a good deal of bridge stock you may be interested in, madoff was a heavy investor.
I think Facebook is a lame investment (but I thought that Google and Apple were bad at $30 a share each).
The point is that capital creation will shift to London, Hamburg and Hong Kong due to hyper-regulation in the US.
Given that Goldman is in bed with the Obama Regime, their offerings are as attractive as a pile of dog scat.
No, they don't need to drive up demand for IPO, it's already oversubscribed... in fact, that's one of the reasons for Facebook being forced to do an IPO before they wanted to, and the same reason for not offering it in the U.S. - SEC has a "500 shareholders" rule for private companies, which requires a company to report its quarterly financials and other material events as if it were a public company.
After several high profile investments (including about 10% ownership by Russian investment firm DST Global, formerly Digital Sky Technologies, which also owns about 5% of Zynga and almost 5% of Groupon) and $450M in Goldman's "pooled" investment, the SEC is considering treating Facebook as a "reporting company," which makes continued private ownership senseless.
From US investors out in cold for Facebook offering - NYP, by Mark DeCambre, 2011 January 18
The move comes nearly six months after the investment bank shelled out $550 million in a settlement with the SEC over its role in marketing a mortgage security. Foreign investors predominantly in Asia and Europe, which don't have to comply with strict SEC rules, are the only clients to get a crack at one of the hottest Internet companies before it goes public, expected in 2012. A deadline to invest in the deal is set for the end of the week, according to a source, adding that strong foreign demand has made it easier for the firm to exclude US investors from the deal. ..... < snip > < snip > ..... With all the buzz surrounding the deal, Goldman is growing concerned that it will run afoul of the Securities and Exchange Commission if it appears to be marketing a private placement.
Thanks Sarbox!
The point is that capital creation will shift to London, Hamburg and Hong Kong due to hyper-regulation in the US.
First Sarbox, now Dodd-Frank... driving corporate, individual and foreign investment capital straight out of the U.S. ... and then the politicians responsible for the mess will blame "evil" banks and "BIG" corporations for "moving out" and not paying their "fair share". Sadly, this kind of reasoning finds receptive audience on both sides of the isle.
Actually I found the reasons given interesting ...
because it is our regulations that are sending an American company overseas...
The reasons are simple, if it isn’t US investors, then can the SEC shut this scam of a thing down. This is clear a setup to avoid being covered by the 500 owner rule for Facebook, nothing more.
Goldman continues its criminal ways, glad they got bailed out by taxpayers.
Analagous to: "Why buy the cow when the milk is free?"
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