The Facebook IPO is proving more disastrous by the minute for the underwriters, insiders and the Wall Street fraudsters. Since the days of the DOT COME bubble, a vast majority of the IPOs worked only the insiders, underwriters and the shills, hacks and crooks who make routine appearances on CNBS. The all – work in concert to create a hype that eventually fleeces the little guy who buys into the hype. Judging by the utter failure of some of the most recent ‘dot bombs’ like Zinga (rhymes with a Telugu curse word I know), Pandora, Groupon, there is evidence that the little guy is not taking the bait anymore.

Now that Facebook is teetering on the verge of breaking $30 mark, a full 20% decline from the inflated offering price, it is now the turn of the fleecers to feel the pain. Quoting a famous dialogue from the Telugu classic Mayabazar,  “aarthanaadamulu sravanaananda karamugaanunnaviraa!”