The banking giant's $2 billion loss has many lawmakers and economists wondering what happened to the 2010 financial overhaul, which was supposed to prevent risky hedging. Many are also looking back further — to a Depression-era law, repealed in 1999, that separated commercial and investment bank activities.
Early investors like investment banks and venture capitalists already own shares of Facebook. Some are even starting to sell. Now small investors get their chance to buy with Friday's IPO. NPR's Sonari Glinton checks in with a few of them on the first day of trading.
Facebook's culture and the nature of its business will inevitably change after it goes public. Its finances will be much more open to scrutiny. NPR's Steve Henn tells host Scott Simon that because founder and CEO Mark Zuckerberg owns so much of Facebook's stock, he will continue to have significant autonomy from Wall Street's demands.
Robert Siegel talks to Monica Langley of the Wall Street Journal about her piece, "Inside J.P. Morgan's Blunder." She investigated what went on behind the scenes as the bank faced billions of dollars in losses through failed investments.
Investors snapped up Facebook shares on a much hyped and tumultuous first day of trading. Mark Zuckerberg got it all started by ringing the opening bell for Nasdaq. Then a glitch delayed trading by half an hour. The IPO put Facebook's market value at over $100 billion — more than McDonald's or Amazon.
When you give to WAMU, your tax-deductible membership gift helps make possible award-winning programs such as Morning Edition, All Things Considered, The Diane Rehm Show, The Kojo Nnamdi Show, and other favorites.