Where are Facebook’s friends? Stock is down on second day trading
Facebook’s stock is tumbling well below its $38 IPO price in the social network’s second day of trading as a public company on Monday. Shares are down 11 percent in late morning trading.
“Beware of perfect wording. If the phrasing flows like ad copy, it probably is, warns Jeff Blyskal, a senior editor for Consumer Reports. Review factories are offering $10 for every 5-star review on the e-commerce giant Amazon, the New York Times reported. On that note, Blyskal figures someone waxing poetic about $5 socks should not be taken seriously. “It’s just out of proportion to what it is.”
(via huffingtonpost)
“During the three weeks I traveled in Australia, I was often asked, with genuine bafflement and considerable sympathy, how the world’s greatest nation had become captive to a band of ideologues and fundamentalists, how the American dream — a beacon to people everywhere — had become so powerless to deliver on its promise of opportunity for all.”
(via huffingtonpost)
life:
On Aug. 8, 2011, the American stock market recorded its worst loss — plunging 635 points — since December 2008, fueling widespread fears of another economic meltdown. As Wall Street continues to wobble in the wake of Standard & Poor’s historic downgrade of the U.S. credit rating on Aug. 5, LIFE.com takes a look at scenes during the country’s last great economic calamity, the Great Depression.
see more — Hard Times: Life in the Depression
Why S. & P.'s Ratings Are Substandard and Porous - Five Thirty Eight
“The Dow has effectively lost its gains for the entire year.” - MSNBC
“By February 2007, two months after the Sparks memo, Goldman had gone from betting $6 billion on mortgages to betting $10 billion against them — a shift of $16 billion.”
The People vs. Goldman Sachs - Rolling Stone
How in world isn’t someone in jail?
“Top executives at JPMorgan Chase & Co got blunt warnings about speculation that Bernard Madoff was running a Ponzi scheme, but appear to have been concerned only with protecting the bank’s own investments, the trustee seeking to recoup $6.4 billion for Madoff investors said.”
A Dublin shop advertising a “Bailout Blitz” sale. Markets expect Ireland to restructure its debt.
It is the battle that could well determine the fate of the euro… NYTimes
