John Cassidy: Wall Street isn't Doing God's Work if it isn't IPO'ing Things

"Yet Wall Street’s role in financing new businesses is a small portion of what it does. The market for initial public offerings (I.P.O.s) of stock by U.S. companies never fully recovered from the tech bust. During the third quarter of 2010, just thirty-three U.S. companies went public, and they raised a paltry five billion dollars. Most people on Wall Street aren’t finding the next Apple or promoting a green rival to Exxon." - John Cassidy in the New Yorker, here

like, so companies go broke and stuff, and then like, they need like financing, but it's like, an IPO wouldn't really make sense cause like they already HAS a stock, so like they do this thing called "restructuring," and that's like really, REALLY hard work for all these bankers and they did like 21 rights offerings to fund reorganizations in 2010 (ref: The Deal Pipeline) which is like up 50% from 2009, sooo . . . yeah that's really hard. You couldn't do it.

ZOMG LDO.