Monday, January 17, 2011

There goes John Galt

Want to invest in Facebook?

You're going to have to move overseas. Because of US security laws, Goldman decided to move their private placement to foreign investors............

Goldman Sachs Group Inc. slammed the door on U.S. clients hoping to invest in a private offering of shares in Facebook Inc., because it said the intense media spotlight left the deal in danger of violating U.S. securities laws.

Goldman's decision to allow only non-U.S. investors to buy shares in the social-networking site is a black eye for the Wall Street firm, which sent jealous rivals scurrying for look-alike deals when the Facebook agreement surfaced two weeks ago.


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