Get Ready For A Morgan Stanley Versus NASDAQ Finger-Pointing War Over The Borked Facebook IPO

Michael Grimes Morgan Stanley

The Facebook IPO was delayed by a half hour, and then, after trading started, desks were unable to confirm whether or not they had their shares at the right price.

Who is to blame for the $104 billion screw-up?

A source close to the IPO tells us “I don’t view this as indictment of NASDAQ,” pointing out that Facebook trading involved massive volume.

But this source says, it’s only a matter of time before the “finger pointing” between NASDAQ and Facebook’s lead IPO banker, Morgan Stanley, really gets going.

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