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This week generated a lot of interesting and good news. The biggest headline was that Facebook filed papers to have an initial public offering, most likely in May. (Want to see the instant message that launched it all?) Good news included the Senate’s decision to prohibit insider trading by members of Congress, an issue we’ve previously covered here and here.
We also applauded the government's move to make fees on 401(k) accounts more transparent, and the Obama administration's plan to help homeowners save about $3,000 a year on their mortgages. And while we're not sure if this counts as good news, Stephen Colbert's Super PAC has raised more than $1 million, giving truthiness even greater stature in our society.
One of the few dark spots this week was news that some birth control pills by Pfizer were being recalled. And we were pretty outraged that some New York City private schools are now charging more in tuition than Harvard does.
But if you want to talk high prices, then look no further than the Facebook IPO filing, which is going to create some overnight millionaires and billionaires (including six surprising people). This week, we look at just how all the time we waste on the social networking site adds up into—count 'em—$75 billion to $100 billion. And then we dive into the question we're all asking ourselves now: Should we buy the stock?
The Facebook IPO: From Billions of Likes to Billions of Dollars
Facebook's IPO filing makes it worth up to $100 billion. But if the company doesn't produce any goods, how can it profit so much from our online socializing?
Should You Try to Buy Facebook Stock During the IPO?
Facebook's IPO will become the largest internet IPO ever. Should you plumb your savings to buy in? We look at history and some numbers to suss it out.
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