Strictly Business

Looks like the insiders at Facebook took the money when it was to be had.

The hotly anticipated public offering on Friday turned out to be an insiders money grab, with those who had shares dumping them on the market in such quantities, the underwriting investment banks had to buy the shares to keep the price up to at least the initial asking price of $38.

The future may be nicer to Facebook shareholders, but today, the stock continues to swoon.