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Erskine Bowles Legitimately Raped NC Pension Fund

RJKarl said:
There are many IPOs that flame out hugely.
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Agreed, just tempering the thought that all IPOs have these issues. Some are successful because all parties act honestly and keep the general market up to date with accurate information.

I'm not saying I agree with how the system works, as it clearly benefits certain "insiders" and underwriters more than the general market in many cases, as was the case with the FB IPO.
 
DEACisGO said:
Agreed, just tempering the thought that all IPOs have these issues. Some are successful because all parties act honestly and keep the general market up to date with accurate information.

I'm not saying I agree with how the system works, as it clearly benefits certain "insiders" and underwriters more than the general market in many cases, as was the case with the FB IPO.
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In this one insiders lost money from the IPO. Being on the board, there are some other restrictions on IPOs.
 
Even more reason why Erskine wouldn't get involved in shady dealings with a state pension fund for an IPO that was in high demand. NC's participation in the IPO was peanuts.
 
$26M out of a $16B IPO isn't even a rounding error. FB could have easily replaced NC's investment. It was immaterial to the event.
 
buckets said:
Even more reason why Erskine wouldn't get involved in shady dealings with a state pension fund for an IPO that was in high demand. NC's participation in the IPO was peanuts.
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Cause if there's one thing Wall St cares about, it's long-term reputations? Bowles is a shady-ass bitch and his debt commission is dead to me now.
 
Both Facebook and the banks had reason to not mislead investors about the company's growth and outlook, and yet they did! So I really don't see why being on the FB and Morgan Stanley boards makes Bowles at all trustworthy, especially when Morgan Stanley was the worst offender in terms of misleading investors.
 
The first sentence is a different issue.

Also, even with the new rules, members of the boards have to have some trust in the people who prepare the circulars. If the numbers were cooked, then people need to go to jail.
 
RJKarl said:
The first sentence is a different issue.

Also, even with the new rules, members of the boards have to have some trust in the people who prepare the circulars. If the numbers were cooked, then people need to go to jail.
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The numbers weren't cooked or manipulated, just some investors were told the more recent and more sobering figures that came after the IPO was set up.
 
All investors should be privy to the same info before the IPO.
 
buckets said:
Even more reason why Erskine wouldn't get involved in shady dealings with a state pension fund for an IPO that was in high demand. NC's participation in the IPO was peanuts.
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exactly. a politician would never get involved in shady dealings because he/she would be risking his career if caught.
 
buckets said:
That's quite a conspiracy theory there
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TuffaloDeac10 said:
You think the Bowleses weren't self-interested in their support of the Treasurer?
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buckets said:
I dont think Bowles gave a shit whether or not the NC pension fund got in on the Facebook IPO
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TuffaloDeac10 said:
He's on the boards at FB and Morgan Stanley.
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buckets said:
Even more reason why Erskine wouldn't get involved in shady dealings with a state pension fund for an IPO that was in high demand. NC's participation in the IPO was peanuts.
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TuffaloDeac10 said:
Cause if there's one thing Wall St cares about, it's long-term reputations? Bowles is a shady-ass bitch and his debt commission is dead to me now.
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I mean you can think what you want, but it isn't like the Bowles don't raise money for every D in North Carolina. They raise mega bucks for almost every major D in the state every election cycle. Cowell was elected in 2008, when they initially raised money for her. If you think the Bowles raised money for her in 2008 for the IPO in Facebook you need a bigger tin foil hat.
 
TuffaloDeac10 said:
The numbers weren't cooked or manipulated, just some investors were told the more recent and more sobering figures that came after the IPO was set up.
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No simpathy foranyone or any group who bought into this speculative venture. Facebook doesn't make profits, and I have never seen or heard a reasonable detailed plan for how to move it to being profitable. Only those who could afford to lose their money should have bought in.
 
Facebook does indeed make profits, just not enough growth, potential to justify the absurd implied IPO market cap.
 
DEACisGO said:
Facebook does indeed make profits, just not enough growth, potential to justify the absurd implied IPO market cap.
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Thanks for the correction without the shit that usually accompanies those on these boards.
 
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