It seems that the underwriters at Morgan Stanley knew that this was going to be a raw deal. I have nothing in this at all, I do not use facebook, nor am I invested with MS; it just drives me crazy to see that this just seems to be a scam.

As with many things where was the vetting process in this?

http://dealbook.nytimes.com/2012/05/22/facebook-i-p-o-raises-regulatory-concerns/