Morgan Stanley Gets a Wrist-Slapping for Facebook IPO Flop

MS to pay a mere $5 million fine

   

Not that we needed any more evidence that the individual investor often does not get a fair shake on Wall Street, but Morgan Stanley (NYSE:MS) just gave us some anyway.

News broke yesterday that MS will pay a $5 million fine — or in Morgan Stanley’s world, virtual chump change — to the Massachusetts’ securities regulator over the disastrous Facebook (NASDAQ:FB) IPO.