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It is amazing sometimes to read the great banking establishment's growth as the United States' replacement for manufacturing in our GDP. So much funny money and bleeding the wealth from the past. How does an investment bank get to "declare" that Facebook is worth $50 Billion. Where is the income stream or "planned" income (profit) stream to justify this. This sure brings back the memories of the '95 to '98 dot com bubble. How many internet companies with no cash flow actually survived?
I agree with the post above. If this is truly HNW investors, then they are merely participating in the gambling. When the "investments" start bleeding into retirement funds, bond funds, or some new fancy named derivitive is when the public gets duped and robbed. As long as people "gamble" with THEIR own money, it is at least fair. They surely should understand the hype vs value etc.

It is sad however to see how the "investment' community (Banks) are totally devoid of any ethics in how they create "funny money". Our world is now in a precarious situation as a result of the housing bubble created by them with the complicity of their "paid" politicians. With that source of easy money gone, these new future IPO deals are just one of the areas where they WILL feed their greed.