They Just Don't Learn

Perhaps the title of this brief post makes you think I’m talking about politicians, who keep playing the same stupid games election after election, until we start throwing them out en masse. (That’s going to happen again in a couple years.)

Nope.

I’m talking about Goldmine Sachs and those gubmint employees charged with “regulating” investments. Facebook wants a billion and a half dollars, and the dweebs at Goldmine Sachs are going to get it for them. They’re going to tab a number of “sophisticated investors” and put in 450 million of their own dollars.

But neither the Facebook folks nor the Goldmine Sachs dweebs want any sort of regulation on the stuff they’re peddling. Without getting into the arcane language of what passes for high finance these days, like RSU’s or Sarbanes-Oxley or the implications of the Dodd-Frank act, suffice it to say that this Facebook deal has already been essentially given a pass on any form of meaningful regulation or transparency, because while all the banks were crashing, Facebook got itself un-included from being subjected to the unwanted (albeit nearsighted and astigmatic) eyes of the SEC.

You see, Facebook is an “SPV” – Special Purpose Vehicle, in investment lingo, as applied by the dweebs at Goldmine-Sachs.

In other words, Facebook wants a whole boatload of public money, with none of those pesky regulators seeing where it comes from or what they do with it.

Those folks on Wall Street – they just don’t learn.