Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Papantonio: The Facebook IPO Fraudsters
Facebook’s stock went public last week, and many small time investors thought that they were going to make a fortune by snagging shares in the IPO. But Wall Street had a different plan – they knew this was going to be a hot stock with the public, but they also knew that the financial projections were way below what the average investors believed they were. So, in typical Wall Street fashion, they selectively released information to a few investors, which helped them make a ton of money when the stock was offered. Meanwhile, the average investor has continued watching their shares trend downward. Mike Papantonio talks about how Wall Street corruption has once again harmed mom and pop investors with attorney James Kauffman.
