The Coming Facebook Initial Public Offering – How Many Pols Will Profit?

The Financial Times has put up an article about the coming initial public offering of Facebook stock, and as I read it, I wondered: “How many politicians will get fat[ter] on this IPO when it happens?  Going as far back as the early 1990s, I remember stories of how then Speaker of the House, Tom Foley, managed to get in on an unusually large number of IPOs.  It looked very strange, since getting in on initial offerings of stock is a highly lucrative segment of the market, but it’s harder than you might think, yet somehow, I think politicians must have an edge.

Of course, as Peter Schweizer has described in his book Throw Them All Out, we can easily guess that it has very little to do with luck.  Politicians seem to have an edge in virtually every department, but what we should realize about this is that they’re simply adept at working the system.  The insider information in which they trade enables them to make money in ways you and I cannot, and what’s worse is that if you and I behave as they do, it’s huge fines and jail for us little people.

As you watch Facebook go public someday soon, you might stop and wonder as you click through the pages which politicians are getting richer as you browse through those pages.

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4 Responses to The Coming Facebook Initial Public Offering – How Many Pols Will Profit?

  1. stevethird says:

    Lately it has become popular among pundits to ask exactly what and who is/are the "Establishment.". Well i would suggest that if you acquired a list of names of the people who manage to purchase blocks of shares of the FB IPO, you would have a very good base of people you can start with.

  2. stevethird says:

    P.S. Republicans love to talk about "Equality of Opportunity". Yeah…Right!

  3. Gail says:

    If you want to get in on the FB IPO as an ordinary investor, Wait until all the insiders start dumping it after they have made their profits. You will see it go down like a rock. Buy low sell high. LOL