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Political Factoid
Only the privileged get access to the
high profit opportunities.
- The underwriters (banks handling
IPOs) get to pick who gets the
shares at the "offering price."
- Good-ole-boys network
- The rich get richer.
- For example, in 2008, Warren
Buffet was able to get $3 billion
in GE preferred stock - stock that
was unavailable to most people.
More OVE that the "free market" is
not so free after all.
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