Facebook Falls Facedown, Regime Targets Morgan Stanley

The Facebook IPO. Ho-ho-ho-ho! Oh-ho-ho-ho-ho! Somebody’s gonna have to pay for this. These are Obama’s buddies at Facebook. (interruption) Well, because the bottom’s falling out. They can’t maintain the initial price, the 38 bucks. (interruption) Right. Well, okay. So somebody’s gonna have to pay the price for this. Somebody’s gonna get the blame for this. You can’t have these people losing Obama money like this. That can’t happen. You can’t blame Goldman Sachs. They’re underwriters. They were in for $500 million at the outset, before the IPO.

You can’t blame Goldman Sachs because they’re Obama buddies. And you can’t blame JPMorgan Chase. They’re Obama buddies. But Morgan Stanley? A-ha! We have our target. Morgan Stanley is soon, if not already, going to be under investigation by the SEC for not being truly forthcoming about changes Facebook made in its prospectus. See, Facebook made a profound admission. It’s another thing I told you last week. In fact, it might have been Monday. When you ask about Facebook, I said, “Of all the stuff that’s been said about Facebook…”

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