Lots of people would stand in line to buy shares in Facebook, but for now, only an exclusive few — wealthy clients of Goldman Sachs — will be able to.
The public markets are democratic in that anyone can buy a share in a public company. That’s a good thing for American society and Democracy.
Ownership in high potential American companies promotes long-term class mobility - a key to our success in the global marketplace.
Facebook shares are now only available to an “exclusive few”, in the words of the NY Times. Meaning that mainstream America will not have access to shares in one of the fastest growing Technology companies out there (yet).
Is that un-American?
Exeter…Harvard…and now Goldman. Elitist indeed!
