wallstreet

McNamee says behavior on Facebook IPO is 'criminal'

As usual, tech investor Roger McNamee didn't hold back today, telling Bloomberg TV that the Nasdaq and Morgan Stanley are to blame for Facebook's IPO bungle as their actions on the stock "bordered on criminal."

McNamee, whose firm Elevation Partners (the private equity firm he co-founded with Bono) invested in Facebook, said the public offering put a spotlight on the "extreme corruption" in Wall Street and the IPO bungle was done on purpose to benefit Morgan Stanley.

"NASDAQ's behavior on this in my mind borders on criminal.I think Morgan Stanley's … Read more