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Goldman Sachs Says No Facebook Shares For US Investors

Posted by Soulskill on from the good-thing-they-aren't-covered-in-gravy-or-there-would-be-war dept.

theodp writes "In 2009, Robert Cringely speculated that the day might be coming when Goldman Sachs decides the United States isn't worth dealing with anymore. Crazy, eh? Maybe not. Blaming 'intense media attention,' Goldman Sachs has decided to exclude US investors from a $1.5 billion Facebook offering. In a nicely-timed all-investors-are-not-created-equal MLK Day statement, the US taxpayer bailout beneficiary 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.'"

8 of 529 comments (clear)

  1. Re:So what GS is saying is.... by russotto · · Score: 5, Funny

    The SEC has all sorts of regulations meant to "protect" the public. Goldman-Sachs is just trying to obey them.

  2. Re:Where's my cheque? by nevillethedevil · · Score: 5, Funny

    I'm one of those evil immigrant types come to take your jobs and your women.

    --
    Be gone from my sight or prepare to feel my flaming wraith!
  3. Re:Where's my cheque? by h4rr4r · · Score: 4, Funny

    Have you seen our women?
    If you can afford to feed one, you can have one.

  4. Re:Where's my cheque? by nevillethedevil · · Score: 3, Funny

    If you saw what I came from you'd understand :)

    --
    Be gone from my sight or prepare to feel my flaming wraith!
  5. Re:Good by Z34107 · · Score: 3, Funny

    Going public means having to comply with Sarbanes-Oxley. Compliance is an entire industry unto itself, so the law of unintended consequences happens:

    • Small companies can't afford to go public... so they don't. The IPO market is strangled, and Thee Little Guy is no longer regulated because he no longer exists.
    • Large companies can comply... if they want to. SarbOx is expensive enough that a scheme like this is actually profitable in comparison. The Big Guy is no longer regulated, because he has an army of lawyers to smuggle his shares out of the country in their rectums.

    Without SarbOx, something this complicated and dangerously-close-to-illegal would just be stupid, and Facebook would be publicly traded, with all the oversight that entailed. But, maybe all that extra regulation everyone's dodging already prevented a second Enron~

    --
    DATABASE WOW WOW
  6. Re:So what GS is saying is.... by Dunbal · · Score: 5, Funny

    A banker with a conscience? Hahaha that's the best joke I've heard all night.

    --
    Seven puppies were harmed during the making of this post.
  7. Re:So what GS is saying is.... by jkyrlach · · Score: 5, Funny

    To: Ugandan Upper-class houshold Dear Sir or Madam, I am a Goldman Sachs Broker in the United States of America. We have been fortunate enough to aquire many millions of dollars in private Facebook stock, but because of govt. red tape, we cannot sell it here. If you would be kind enough to put 25000 in a foreign account and give us that info, we can make sure you get in on this once in a lifetime opportunity! Your American counterparts, Goldman Sachs

  8. Goldman Sachs can... by HikingStick · · Score: 1, Funny

    Goldman Sachs can take their business and shove... [THE BODY OF THIS COMMENT WAS DELETED BY THE AUTHOR TO SAVE HIMSELF THE RIDICULE OF RECEIVING MULTIPLE -1 FLAMEBAIT MODS, OR A FEW +1 INTERSTING MODS]. So that's what I think of Goldman Sachs.

    --
    I use irony whenever I can, but my shirts are still wrinkled...