Talk about an evil axis. We haven’t seen an incongruous alliance like Goldman’s Facebook deal since Iran-contra, since Sammy Hagar joined Van Halen, or since Apple Inc.
For Facebook, you have to wonder how hard up it is for backers that it would choose to ally with the Evil Empire. Then again, who turns down an investor willing to set the bar at $50 billion and up? That’s a bigger market value than Boeing, General Mills and Morgan Stanley.
Welcome to Wall Street in 2011, a year in which the bizarre happened before the first opening bell at the New York Stock Exchange, and then it got really crazy: the Dow Jones Industrial Average finished Monday at 11,670, up 93 points.
Given anemic growth, lingering high unemployment and stagnant wages, the phrase irrational exuberance comes to mind. Then again, rationality isn’t important to Wall Street interests. Making money in the margins is.
For Facebook, you have to wonder how hard up it is for backers that it would choose to ally with the Evil Empire. Then again, who turns down an investor willing to set the bar at $50 billion and up? That’s a bigger market value than Boeing , General Mills and Morgan Stanley.
Welcome to Wall Street in 2011, a year in which the bizarre happened before the first opening bell at the New York Stock Exchange, and then it got really crazy: the Dow Jones Industrial Average finished Monday at 11,670, up 93 points.
Given anemic growth, lingering high unemployment and stagnant wages, the phrase irrational exuberance comes to mind. Then again, rationality isn’t important to Wall Street interests. Making money in the margins is.
For more: http://www.marketwatch.com/story/why-you-shouldnt-like-goldmans-facebook-deal-2011-01-04?reflink=MW_news_stmp
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