Tuesday, January 18, 2011
Facebook, Goldman Sachs, & American Investors: Why Not?
The Obama Administration talks a good game about getting our domestic economy back on its feet and getting people back to work, and yet, the IPO (initial public offering) of Facebook, an American corporation created by an American is being offering exclusively to overseas investors! Why?
After the American taxpayer bailouts Goldman Sachs, and the AIG bailout was in actuality a Goldman Sachs bailout, Goldman Sachs decides that it can make better clients of its best and wealthiest clients overseas by taking the Facebook IPO overseas. Where is the Obama Administration on this one? What better way to build confidence in our domestic economy after the hit investors took in their IRAs, 401-Ks and mutual funds, than be given the opportunity to invest in Facebook and perhaps make a little money?
Here is a clear example of the American people being called upon to help out Wall Street with a taxpayer bailout, but then being shunned when the opportunity comes along for the little investor to invest in an American idea and an American corporation.
Where is the media coverage on TV? Is almost everyone brain dead, or am I making too much of this lost opportunity to invest?
The above two paintings in acrylic by F.D. Zigler, 2009.