[Vision2020] Sachs it to me (us)

[Dave]

I have to admit I haven't looked at it that way. ... uhm, I have nothing 
more to say at this point.

Dave


On 01/17/2011 09:41 PM, Paul Rumelhart wrote:
>
> The way I understand it, the story goes like this.  Facebook is a 
> private company that won't open it's books.  There are laws that state 
> that you can't have more than 500 investors in a private company.  GS 
> values Facebook at $50 billion, so it really wants in, and tried to 
> make the case that it was one investor that is just selling shares to 
> it's customers from that one investment.  The SEC came in and said 
> "Ah, no." and scuttled that idea.  So now GS needs to exclude US 
> investors and look for investors in areas where silly laws like that 
> don't exist.
>
> The way I see it, the SEC just saved the US investors from the 
> consequences of GS making a bad investment in a firm in which it 
> doesn't have enough information to properly valuate.
>
> There is an interesting story on slashdot.org ("News for Nerds. Stuff 
> that Matters.") about it, with some interesting discussion:  
> http://yro.slashdot.org/story/11/01/18/004226/Goldman-Sachs-Says-No-Facebook-Shares-For-US-Investors 
>
>
> Paul
>
> Dave wrote:
>> /From /http://slashdot.org/ :
>> /
>> "In 2009, Robert Cringely speculated that the day might be coming 
>> when Goldman Sachs decides the United States isn't worth dealing with 
>> <http://www.cringely.com/2009/08/is-technology-evil/> anymore. Crazy, 
>> eh? Maybe not. Blaming 'intense media attention,' Goldman Sachs has 
>> decided to exclude US investors from a $1.5 billion Facebook offering 
>> <http://www.bbc.co.uk/news/business-12212043>. In a nicely-timed 
>> all-investors-are-not-created-equal MLK Day statement 
>> <http://blogs.wsj.com/deals/2011/01/17/sorry-about-that-read-goldman-sachss-statement-on-excluding-us-facebook-investors/>, 
>> the US taxpayer bailout beneficiary 
>> <http://www.economicpopulist.org/content/goldman-sachs-paid-out-43-billion-us-taxpayer-money-foreign-companies> 
>> said, 'Goldman Sachs decided to proceed only with the offer to 
>> investors outside the US....We regret the consequences of this 
>> decision, but Goldman Sachs believes this is the most prudent path to 
>> take.'"
>>
>> /Dave
>> -- 
>> Windows, OSX, or Linux is the same choice as:
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>>   
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-- 
Windows, OSX, or Linux is the same choice as:
McDonald's, Burger King, or a (real) Co-Op.