l****z
发帖数: 29846 | 1 May 23, 2012 | Posted by Michael Laprarie
Two weeks ago, JP Morgan Chase announced a $2 billion writedown of its
investment balance sheets due to risky derivatives trades gone wrong.
And last Friday, the most eagerly anticipated tech IPO in a decade, Facebook
, failed to thrive and closed just under its opening price of $38 a share.
Technical glitches on its opening day resulted in a “locked market” for
many investors as their buy and sell orders could not be executed. The
following Monday (May 21) NASDAQ announced the possibility of monetary
compensation for losses that investors may have suffered due to being locked
out of the market on Friday. This announcement created a near-run as
investors dumped millions of shares of Facebook in order to qualify. As of
the close of business Tuesday May 22, Facebook sat at $31 a share, a loss
of 18%. Angry investors and baffled financial experts are now looking at
how financial giant Morgan Stanley handled the valuation of shares in the
days leading up to the IPO.
I have a question: wasn’t the Dodd-Frank Wall Street reform bill supposed
to prevent these kinds of things, especially with respect to derivatives
trading? And come to think of it, how was MF Global able to raid investor
equity accounts in order to cover its short term debts, thereby losing
hundreds of millions of dollars worth of investor’s money last year? I
thought we “fixed” Wall Street. I guess I was wrong.
Yet another signature accomplishment of the Obama Administration ends up
being relatively worthless. Why am I not surprised. | P*********0
发帖数: 4321 | 2 操。明显是瘸子抱怨路不平。
Conservatives championed the deregulation for decades. Phil Gramm introduced
a bill that tore down the firewall to prevent wall street from gambling.
Check on Glass-Steagall act. Dodd-Frank bill, was watered down so much by
the GOP that it lost its teeth.
Facebook
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【在 l****z 的大作中提到】
: May 23, 2012 | Posted by Michael Laprarie
: Two weeks ago, JP Morgan Chase announced a $2 billion writedown of its
: investment balance sheets due to risky derivatives trades gone wrong.
: And last Friday, the most eagerly anticipated tech IPO in a decade, Facebook
: , failed to thrive and closed just under its opening price of $38 a share.
: Technical glitches on its opening day resulted in a “locked market” for
: many investors as their buy and sell orders could not be executed. The
: following Monday (May 21) NASDAQ announced the possibility of monetary
: compensation for losses that investors may have suffered due to being locked
: out of the market on Friday. This announcement created a near-run as
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