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Visa IPO Price Set

Filed under: Business,Economy News — Tags: , , , , , , — Paddy Wallbouncer @ 6:50 pm 2008 March 18

Picture of the Visa Credit Card LogoAbout $44 per share, and 17.9 billion dollars in market capital. It’s just the natural course of things. Create a company that is based upon building up debt. Get the debt up to record levels! Just as it looks as though major defaults may be around the corner, spin the company off in an IPO! That way, when all the Visa credit card users are up to their hats in debt and start a massive round of defaults, have the investors of the shiny new Visa IPO pick up the tab. And did you read that the Investment houses like J.P. Morgan and Goldman Sachs made sure they had their best clients buy up the stock to thwart a rapid sell off ala Blackstone? It seems more like they were dumping it off to the ones more likely to be able to afford living with a dog with fleas. Who says they don’t have a heart?

And it was a big day on Wall Street. The Dow was up, the NASDAQ closed up over 4% It’s been a few years since they had that kind of gain, of course don’t forget that it is only back to the place it was three trading days ago -and it was significantly higher in December.

None of todays gains could possibly have any bearing on the fact that the Fed lowered interest rates, Again. Does anyone think of Forest Gump here?

“Then I had to lower interest rates… again.”

It would be good if those people who are up to eyeballs in debt could get a piece of that 4% pie, they’ll be paying on average around six times that amount. Where is a good Mafia loan shark when you need him. Oh, yea, forgot, he just spun off his legitimate IPO. Visa: It’s everywhere you want to be, threatening to break your legs if you don’t fess up.

Croak. Croak.

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1 Comment

  • I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog.

    Tim Ramsey

    Comment by Tim Ramsey — 2008 March 18 @ 7:04 pm

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