Price Listings like a VISA IPO

March 21, 2008

Following up on my recent entry “Stop Whining!” I thought it would be helpful to point out some of the vitality in the greater economy. Of course, you’re not going to find this in too many news outlets: Even my favorite newspaper, the Wall Street Journal, put it in Section C way in the back:

Visa’s Debut Pops 28%. Record U.S. IPO Nabs $19,65 Billion; Lots left on Table.

That’s right, folks. Almost $20 BILLION from investors today, with much more to come. In fact, the bid UP the price - from about $44 to start to around $55 at the close. But don’t tell the Fed, because that will undermine the general desire on the part of politicos everywhere to cast the investor as a stupid, unsophisticated spendthrift who is just plain mean because he won’t invest in undervalued, overrated, unsecured, high-risk mortgage instruments. Of course, Super Smart Uncle Sam will, because, well, if he loses his shirt, it’s not his money anyway. He can always just tax the citizenry more, anyway.
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Written by Matthew Ferrara · Filed Under REALTORS | Leave a Comment

Price Listings like a VISA IPO

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