GM IPO Today - Sell the News

I hope Turbo Timmy sold at the opening pop... The market maker for the IPO today is Getco, a Chicago-based high-frequency trading giant.

The lead underwriters for the IPO, who are set to collect millions of dollars, are J.P.Morgan Chase, Morgan Stanley, Bank of America Merrill Lynch, and Citigroup. There are 35 underwriters for this IPO, after UBS got dropped.

Their work is done now, having managed a pop above the IPO price. Nothing new here, move along...




And the supposed architect of this amazing turnaround 'narrative', Steven Rattner, is being charged with bribery by NY Attorney General Andrew Cuomo, who also wants to ban Rattner from the securities industry for life. But no one gets punished as long as they are the ruling elite or well connected to the ruling elite. Rattner will probably proclaim that he will fight this unjust allegations, and quietly settle with a few million dollars.

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