<http://scottystarnes.wordpress.com/author/scottystarnes/> Goldman Sachs to only offer FaceBook shares to Non-US Citizens to skirt US Securities law<http://scottystarnes.wordpress.com/2011/01/18/goldman-sachs-to-only-offer-facebook-shares-to-non-us-citizens-to-skirt-us-securities-law/> *Scotty Starnes <http://scottystarnes.wordpress.com/author/scottystarnes/>*| January 18, 2011 at 12:20 PM | Tags: American taxpayers <http://scottystarnes.wordpress.com/?tag=american-taxpayers>, bailouts <http://scottystarnes.wordpress.com/?tag=bailouts>, FaceBook<http://scottystarnes.wordpress.com/?tag=facebook>, foreign investors<http://scottystarnes.wordpress.com/?tag=foreign-investors>, Goldman Sachs <http://scottystarnes.wordpress.com/?tag=goldman-sachs>, SEC<http://scottystarnes.wordpress.com/?tag=sec>| Categories: Uncategorized<http://scottystarnes.wordpress.com/?category_name=uncategorized>| URL: http://wp.me/pvnFC-4ap
<http://scottystarnes.files.wordpress.com/2011/01/facebook-icon.png> Goldman Sachs doesn't mind taking $12.9 billion<http://www.usatoday.com/money/industries/banking/2010-07-24-goldman-bailout-cash_N.htm> from American taxpayers. Now we have word that this same bailed out corporation is refusing to sell Facebook shares to the same Americans who bailed them out. The Wall Street Journal<http://online.wsj.com/article/SB10001424052748703396604576087941210274036.html?mod=WSJ_hp_LEFTTopStories> reports: Goldman Sachs Group<http://online.wsj.com/public/quotes/main.html?type=djn&symbol=GS>Inc. slammed the door on U.S. clients hoping to invest in a private offering of shares in Facebook Inc., because it said the intense media spotlight left the deal in danger of violating U.S. securities laws. *Goldman's decision to allow only non-U.S. investors to buy shares in the social-networking site is a black eye for the Wall Street firm, which sent jealous rivals scurrying for look-alike deals when the Facebook agreement surfaced two weeks ago.* Typical Goldman Sachs. Most of the bailout money they received from the American taxpayers also went overseas to foreign banks<http://www.nydailynews.com/money/2010/07/25/2010-07-25_goldmans_money_trail.html> . The change could damage Goldman's ties to some of its most lucrative clients, left empty-handed just as they were deciding whether to invest in Facebook, clients say. Facebook executives were frustrated by the headache of restructuring the deal at the last minute, according to people familiar with the situation. But the private offering of as much as $1.5 billion in Facebook shares remains on track. Over $7 billion in orders have poured in from foreign investors, or more than $4 for every $1 in shares being sold, according to people familiar with the situation. While high-profile U.S. investors would have been another seal of approval for Facebook, *a person close to the company said it is comfortable with a heavier-than-expected concentration of non-U.S. investors *. About 70% of the site's users live outside the U.S. The Palo Alto, Calif., company had already attained a $50 billion valuation, solidified by a *$500 million direct investment Goldman itself made in Facebook with Russian investment company Digital Sky Technologies*, the knowledgeable people said. The $1.5 billion is being raised on top of that investment. In a statement Monday, Goldman said the offering was rejiggered after the New York company *"concluded the level of media attention might not be consistent with the proper completion of a U.S. private placement under U.S. law." *The decision, made last week and announced to clients starting Sunday night, wasn't "required or requested by any other party," Goldman said. Under an SEC rule known as Regulation D, private placements like the Facebook deal "cannot be the subject of advertising, general promotional seminars or public meetings in connection with the offering." *Rules outside the U.S. governing private placements are less strict *about publicity as long as the deal is offered to individuals and institutions that qualify as "professional investors." *Goldman likely won't come under fire in foreign markets* for the hype that has accompanied the offering. American taxpayer dollars are good to bail out Goldman Sachs but Americans are not good enough to buy stock. Notice that Facebook said they like the non-US investors. Maybe Americans should reject Facebook and stop using their social network. 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