Hi there,

With lies and disinformation flooding the media landscape, and the Trump administration increasing its attacks on journalists, the need for independent news questioning and challenging those in power is more critical now than ever. We do not take any government or corporate funding, so we can remain unwavering in our commitment to bring you fearless trustworthy reporting on the issues that matter most. If our journalism is important to you, please donate today. Every dollar makes a difference. Thank you so much.

Democracy Now!

Amy Goodman

Non-commercial news needs your support.

We rely on contributions from you, our viewers and listeners to do our work. If you visit us daily or weekly or even just once a month, now is a great time to make your monthly contribution.

Please do your part today.

Donate

Goldman Sachs, JPMorgan Scrutinized over Role in Facebook IPO

HeadlineMay 25, 2012

In business news, questions have arisen over the role of banking giants Goldman Sachs and JPMorgan Chase in Facebook’s initial public offering last week. While both banks helped manage the IPO, they also reportedly helped hedge funds bet that the new stock would fall through a process known as shorting. Investors who shorted Facebook made millions as the company’s value dropped 11 percent on Monday and a further 9 percent on Tuesday before rebounding.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top