Goldman Sachs' Facebook Fraud:

Max Keiser and co-host, Stacy Herbert, talk about Goldman Sachs' Facebook deal

Background story:
Facebook investment 'values firm at $50bn'?

Facebook's billionaire founder Mark Zuckerberg has denied there  are plans for a flotation

Facebook has reportedly raised funds from Goldman Sachs and a Russian investor in a deal valuing the social networking site at $50bn (£32.3bn).

The New York Times said that Goldman was investing $450m in Facebook, and Digital Sky Technologies another $50m.

The paper, citing unnamed sources, said the terms of the deal implied a value for Facebook of just over $50bn.

Goldman's involvement could also raise speculation that Facebook might float on the stock market.

The Financial Times also reported that Goldman was investing $375m in Facebook, with Digital Sky putting in $75m.

Cashing in

A Facebook spokeswoman told the BBC that the company was not commenting on the New York Times story. Goldman also declined to comment.

If valued at $50bn, Facebook is worth more than eBay and Time Warner.


BBC News | 3 January 2011 - read full report