posted on Nov, 17 2010 @ 07:44 AM
This has me absolutely infuriated.
First we bailed out the banks using our tax dollars . . . past, present and
future. It is widely known those funds for the most part have been
hoarded, used for profit bolstering, capitalization and generally putting more money in the pockets already full.
Then they bailed out the automotive secotor using our tax dollars . . . past, present and
future. Sure they were claimed to be loans but who
knows when those funds will be returned to us . . . the rightful owners.
Now that GM is working its way back to a position of strength, they're getting ready for their stock to return to public trading.
When I think of public, I think of folks such as you and I . . . the poor schleps who toil away daily to scrape enough dough to take the significant
other out on the town once-in-a-while, maybe the odd vacation or some such nonsense so as to forget about the fact we're pretty much treadmill bound
for the rest of our days unless we can somehow get in on the action to which the rich folk are privy.
No such friggin' luck!
When GM goes public in a few weeks, here's the drill . . . only those who are the richest of the rich will have the opportunity to get in on shares
of the 'new' GM.
The little guy appears to be losing out on the General Motors initial public offering. Trading shops like E*Trade(ETFC_), TD Ameritrade (TD_) and
Charles Schwab (SCHW_) aren't getting access to the GM public offering, expected to occur next week. Despite 35 underwriters and at least 365 million
shares, there isn't enough to distribute to online brokers that cater to small, retail investors.
What's the big deal, you ask . . . according to the
. . . being left out of the
initial public offering can mean being left out of some big profits: Shares of newly public companies sometimes jump 10 percent or more on the first
day of trading, handing easy money to those lucky enough to get access at the offering price.
So, we bail out their asses and when its time to maybe reap the rewards of being so damn giving
they respond by kicking us in ours.