In a honeymoon so short that it would be noteworthy in Hollywood, investors are already suing Facebook! In fact, they’re also suing Morgan Stanley, who underwrote the IPO, and there has been a congressional investigation launched. In what can only be regarded as blind ignorance, investors completely disregarded business analysts all over television and the internet discussing the fact that Facebook had yet to figure out how to monetize their mobile platform. In fact, these same folks completely missed General Motors’ public announcement that they were pulling their advertising from Facebook the very day before the release, citing the reason that it did not work!
Now, folks are seeking the protection of lawyers and the government to come in and save them from their own lack of research for their own investment portfolio. Are all of the people who purchased shares of Facebook too young to remember the massive debacle of companies like Pets.com? Can we as individuals expect that every poor decision we make to be corrected through litigation or legislation?
It appears as though the “victimization” of America is almost complete. The cradle to grave mentality has become so pervasive that it even touches the temple of capitalism known as Wall Street. Bad investments are as much a part of investing as bad decisions are a part of living. We cannot expect the government to correct each and every mistake that we make. Their solution to the problem is to create legislation to prevent the situation from repeating itself. “What’s so bad about that?” you may ask. Well, when the government no longer allows its citizens to make mistakes, its citizens are no longer free!