Why don't people learn from history and the experiences of others? Greed is listed among the "seven deadly sins" for a reason. In the case of those who poured a lot of money into Facebook stock seeking instant wealth, only to see the price plummet, their greed did them in.
There are rules about money. Licensed financial advisers -- as opposed to some of the TV hotshots who "recommend" stocks -- inform individuals about responsible investing. But our human nature too often gets in the way of sound judgment and it is that which the flimflam artists, snake oil salesmen and sleight of hand merchants have relied on for generations to fool us into believing they have discovered the fast track to prosperity.
Those who lost money in the Facebook IPO have wound up with egg on their faces. They should have known better. Congress now wants to get into the act. It shouldn't. Facebook involved private money. If Congress wants to investigate something, it should examine how it wastes taxpayer money.
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