A risk too far

摘要

Talk about bad timing. On January 4th Goldman Sachs said it would buy a stake in Facebook and help its clients to invest in the internet firm too. On January 11th it released a business-standards report aimed at reassuring clients that they came first. Now Goldman has discriminated against hundreds of them. It has reluctantly excluded American clients (and its own partners) from the private share placement for Facebook, citing "intense media coverage". Only overseas investors will be able to buy into the $1.5 billion offering.