The company stalls after raising a record $16 billion in an IPO that makes the social network dynamo more costly than nearly every company the S&P 500.
 
I’ve heard all morning from traders via the backdoor that the company would have done a complete face plant had it not been for underwriters propping it up to prevent it from dropping under the initial IPO prices of $38.
 
This what happens when you price a company at nearly 100 times earnings despite the fact that its revenues are under pressure, its expenses are rising and it still hasn’t figured out how to monetize its customer base.

We’re about to find out.
 
Treasury Secretary Tim Geithner laid down a gauntlet of sorts by telling Jamie Dimon via PBS News Hour that he should resign from the NY Fed Board.
 
If this were the Old West,  the undertaker would be about ready to measure the gunmen before the duel…”Turbo” Tim Geithner vs.  Jamie “take no prisoners” Dimon.
 
My money’s on Dimon.
 
He may face an unprecedented amount of scrutiny as a result of $3 billion in losses, but he’s not going anywhere any time soon. Geithner, on the other hand, appears ready to ride off into the sunset.
 
Source: http://www.businessinsider.com/even-geithner-is-suggesting-jamie-dimon-should-leave-the-new-york-fed-2012-5