Facebook Latest Victim of Wall Street ADHD

More from Kevin Drum:
 
http://www.motherjones.com/kevin-drum/2012/08/facebook-latest-victim-wall-street-adhd
 
Not that I care much about Facebook's future or keeping Zuckerman at the reigns, but this money quote sums up precisely how I feel about all corporate shareholders:
 

Did this "siphon extra profit for the company"? Sure. But contrary to the febrile expectations of Wall Street executives who think the world guarantees them a quick profit every time they lift their eyebrows, that's what an IPO is for: to raise money for the company, not to give a guaranteed pop to early buyers. Zuckerberg would have been negligent not to squeeze every penny he could from the IPO.
 
As for the current slide in the stock: boo hoo. Early investors made a mistake. (Maybe.) That's their problem. They knew perfectly well that buying into Facebook was a risk, and they knew perfectly well that there was a chance the stock would drop when lockup periods expire. That's a risk with every IPO.

Honestly, I just cannot get my panties in a knot over private investors who expect to never loose on an investment risk, and who expect their profits to increase year after year.  While the middle class watches their costs of living increase without raising salaries to match, these folks are screaming because their stocks are earning only 3% rather than the 12% to which they have grown accustomed?!  Cue the violins...