The Facebook IPO as a cultural event was bizarro, especially if you suffered with a vicious hangover after the .com boom. But the allegations of selective disclosure of material information about the company’s business prospects to preferred investors in advance of the IPO? That’s a different story entirely. We’ve put together a timeline of the events relevant to these new allegations.
It could turn out that the selective disclosure investigations may provide us, as if we needed it (see, e.g., JP Morgan), with another window into the systemic corruption of Wall Street. In that sense, these allegations may reveal less about Facebook, Inc., than about a financial system that survived its own self-inflicted near-death experience in 2008 with its venality intact.
House GOP to Obama: You’re in “La-La Land” on a debt limit increase.
Arizona Secretary of State Ken Bennett last night finally called an end to his ill-advised investigation into the undisputed facts of President Obama’s birth.
Hawaii was even kind enough to furnish him with a souvenir of the week that was.
Courtesy of our video captain Michael Lester, the most bizarrely excellent clip you’ll watch today.
Press Secretary Jay Carney berates “BS” reporting of Obama ‘spending spree’, reporting based on “sloth and laziness.”
DC Republicans reinvent themselves as Keynesians to warn of the impending harm to the U.S. economy of cutting government spending.
How does federal spending under Obama stack up against recent past presidents? Take a look.