Steven Mintz, the Ethics Sage, has a new post about the Facebook deal with Goldman Sachs. Any transaction with the name, Goldman Sachs, in it should raise legitimate concerns. Professor Mintz provides detail on what is wrong with the deal. I suggest you read the full post.
From the Steven Mintz post, Facebook — Goldman Sachs Deal –
I am quite dubious about the Facebook — Goldman Sachs transaction because we’ve been there before. Back in the late 1990s and early 2000s we heard about company’s such as Lucent Technologies, Sunbeam, Qwest, WorldCom and, off course, Enron that all had one thing in common — they cooked the books and fooled investors into thinking they were doing a lot better than the true numbers indicated. I hope that’s not the case with the Facebook deal for the sake of the investors and our fragile economy. Otherwise, there may be a sequel to the movie, The Social Network — The Demise of the Social Network!