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rms02d said...
Yes but when you intentionally overvalue an IPO, you can make a lot of money shorting the stock. A lot of people were lining up to short the facebook stocks because it was pretty obvious that it was overvalued.
When banks are shorting a companies stock, while simultaneously consulting the same company and setting the IPO, these types of things happen.
Luckily we passed a big financial bill that... oh wait thats right if you are JP Morgan or Morgan Stanley, or Goldman Sachs, you can just ask Congress for exceptions and exemptions from legislation.
It must be nice to own a Senator.
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