Just when you thought that the Facebook IPO fiasco couldn't get any worse, UBS (UBS) parachutes in and prominently moves to the top of the victims list with a Facebook (FB) related trading loss that could be as much as $350 million.
The three goats in this saga - Facebook (FB), Morgan Stanley (MS), and Nasdaq - will continue the finger pointing at one another. Ultimately Nasdaq will need to reach quite a bit deeper and come up with more than its opening offer to settle the matter with $13.7 million in cash and $26.3 million in supposed trading cost rebates.
And then once it finishes with Jamie Dimon and JPMorgan - and barely before the water pitchers can be refilled - Congress will drag that trio of culprits into the same hearing room for the perfunctory upbraiding. After a lecture or two about Wall Street screwing the little guy (again), everyone can go home with the mission accomplished and closure
http://seekingalpha.com/article/692681-facebook-ipo-s-scorched-earth?source=feed
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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