MAYBE THEY WON'T TURN AGAINST BECK

Today he blamed the goverment for preventing small investors from participating in GM's IPO but the banksters are responsible for that, not the Feds.

GM offering may leave out many small investors
Nov 17 06:57 PM US/Eastern
By BERNARD CONDON
AP Business Writer

NEW YORK (AP) - When General Motors finally offers stock to the public on Thursday, small investors will probably be left out.

"Wall Street is only begrudgingly involving individual investors," laments David Menlow, founder of research company IPOfinancial.com. The attitude is it's "our ball and our rules."

The most important rule of all: The banks handling IPOs — called underwriters — get to pick who gets the shares at the offering price. And critics say those shares often go to favored clients or potential clients — that is, institutions that pay lots of trading commissions to the banks, not the small fry.

"It's still the good-ole-boys network," says Menlow. "As much as the firms would argue to the contrary, it's still, `How much business are you doing with us?'"