The Clueless Rubes Club

Mainstream media are all searching for deeper meanings the shallow waters of Facebook’s bungled IPO.

It probably needs to be pointed out by somebody that at the end of the day, all this really proves is that the so called masters of economic intellect can’t handle what ought to be a pretty rote task at this point in finance. We know they can’t handle the monster of mathematical derivatives they have unleashed. Now we know they aren’t even competent to handle a routine stock rollout.

Time for a new round of generous pre election bonuses. Too big to fail. Too big to jail.