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.
I guess Goldman just wants to keep its nose clean when it comes to these sorts of deal know that they are under intense scrutiny from US regulators. I bet they wish there were still in the IPO Wild West during the Dot.com era when they made tons of money floating IPOs of companies that essentially crashed and burned. I mean it was Goldman that was the lead underwriter for the IPO of Webvan back in 1999. I'm not saying Facebook is a Webvan in the making but I still don't understand how it is worth $50 billion.
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