Morgan Stanley CEO: No Get Rich Quick Scheme with Facebook’s Stock Unless You Work at Facebook

Morgan Stanley CEO James Gorman defended his firms handling of the Facebook IPO and said investors or traders were naive to think they could get rich off a Facebook stock surge once it went public. He added, the only people who deserve to get rich off the IPO are Morgan Stanley and the people who created Facebook. He went on: This IPO wasn't for the crazy and stupid investors who jump on IPOs and expect to never work again. It's like those people who buy lottery tickets every single day thinking their going to win someday. Just because there's an

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Tagged facebook ipo, james gorman, morgan stanley, naive