
It’s time for Europe to deal with that reality and exhibit leadership.
Greece is small potatoes on the global stage. Its economy is the size of Massachusetts. Of course, economists predict a run to the exits once Greece abandons Euroville. Ireland and Portugal are said to be next in line. That’s manageable. Things get dicey when Spain and Italy drop the euro. That would be news.
The Facebook botched initial public offering is another story that has been beaten to death.
Morgan Stanley blew it. Too many shares were offered. The IPO was under-priced. NASDAQ screwed up. Lawsuits abound. Case closed.
It’s hard to shed a tear for those who bought the stock at $42 with the intention to flip it once the anticipated opening day “pop” took off. Investing involves risk. First-day investors still holding their shares haven’t lost a nickel. They should keep their cool.
Facebook is going to be okay.
Mark Zuckerberg and the Facebook gang aren’t shedding any tears over the stock price. They have moved on, gearing up for the company’s annual game day when priorities are dodgeball, kickball and steal the bacon.
The media should move on from both Facebook and Greece. There are bigger stories that are begging to be reported, such as the financial calamity that awaits the U.S. economy at yearend if Congress cannot get a budget deal done.