Are the banks at it again: Facebook = sub-prime mortgages?

[Chosen Man]

Facebook have not posted any accounts, it is estimated their revenue ( note: not their profit) is 1.5billion, yet Morgan Stanley Bank paid 300million for 1% of the company (valuing Facebook at 30bn GBP) and are now selling more shares - for a slice of the sale price and commission.

The .com boom of the 1990s caused mayhem when it collapsed because of unprofitable and over inflated IT companies.

Sub- prime markets failed because of unprofitable and over inflated mortgage packages.

Are the banks doing the same now, over inflating prices on unprofitable companies, because they know that the taxpayers will bail them out?

Is this a new share bubble?

Will you be happy at your taxes paying for this new gamble when it goes wrong?

Your thoughts please.

[highsofa438]

is that why Facebook are setting up so much in Ireland they seen us help the banks out and cripple ourselves for genearations and think well if this goes wrong we will just hop along to Kildare street and go Hello Brian we need to bailed out are in the morning facebook will be gone and then we will need to take all the money off the pensioners to bail out Facebook.

[raybbies]

Why not go to apps and switch facebook off forever .lol.

[alamolicious]

No they aren't at it again. The reason is because they haven't stopped doing what they were doing before. Keep an eye on their assets and the sales purchase and buying of assets. This lot are still buying and selling sub-prime mortgages that are still in existence from the first lot. They are still being bailed out for them as well. The government won't admit to it and help them keep it quiet but it is still going on.

Point is that the banks are still doing the exact same things that got them into this trouble. The only thing they do differently now is that they won't loan money except to those they have a vested interest in and all loans are now considered to be sub-prime. They and our governments have found a way to exclude them from any risk at all; and so, both are making profit from both sides. The people taking out the loans, for whatever reason, and the taxpayer will pick up the debt if and when it goes wrong.

The bankers are bad guys but the government that abet them in what they are doing is even worse.