Facebook Fallout, Debt Collector Controversy, The World's Richest Man Makes Bold Move And More

Thursday, May 24, 2012 Wall St. Cashes In On Facebook Plunge While Ordinary Investors Lose Millions In case a reminder was needed, the fallout from the Facebook IPO illustrates that Wall Street appears to be designed to serve the well-connected at the expense of ordinary people. Ordinary investors may have lost as much as $630 million collectively from the plunge in Facebook's stock following its public debut, Bloomberg reports. These are the same people who used hundreds or even thousands of dollars of their prized savings to bet on the stock only to have its value drop to way below its opening price of $38 per share. Fed Official Essentially Calls For Dimon To Leave New York Fed Hospital CEO To Step Down Over Debt-Collection Controversy The World's Wealthiest Man Is Cashing In On Europe's Woes For Many Middle Class Americans, Taxes A 'Violation' Of Moral Principles Going After A Dead Man's Debt And Other Debt Collector Horror Stories BLOG POSTS Robert Reich: Obama Has to Explain Why Fairness Is Essential to Growth (and Why Some Democrats Have to Stop Believing Otherwise) Mitt Romney epitomizes the unfairness of the American economy in this new Gilded Age. For that same reason, Romney is the quintessence of an economic approach shown to be anti-growth and anti-jobs. The president needs to tell this to the American people. Joseph A. Palermo: Which Wall Street Party Do You Want to Vote For? It's an uphill climb for Obama to even mildly criticize Mitt Romney for being a vulture capitalist given his lack of accomplishment in holding anyone on Wall Street accountable for the economic carnage they wreaked. Eric Yaverbaum: The Value -- and Valuation -- of Facebook When it comes to Facebook, we are still trying to figure out two things: what it is worth to us, and how much it should cost. Vashi Dominguez: The Bitter Future of Spain's Economy Is Spain in recession? Think again. This can't be classed as a recession, more like a crash that will probably change the Spanish economy forever. Mark Cuban: Facebook IPO Post-Mortem: Killer -- But Not for the Reasons You Think Say goodbye to the individual investor on Wall Street. Whatever positive impression they had of the IPO market and the stock market in general was just torched to the ground.

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