US Citizens Cannot Make Money on Facebook, Overregulation?

US Citizen? No Money for You!
I found this article at the Wall Street Journal site interesting. Apparently the latest private offering of shares in Facebook excludes U.S. Citizens (U.S. clients of Goldman Sachs Group). Now before you get upset with Goldman it seems that they needed to do this in order to properly comply with U.S. Securities laws. It has to do with advertising.

Don’t Worry Your Lack of Profit is to Save You Against Yourself
According to the article there is an SEC rule dealing with private placements in part reads “cannot be the subject of advertising, general promotional seminars or public meetings in connection with the offering.”, now that is a U.S. regulation and other countries are less strict. Therefore Goldman is only offering this placement to those outside the U.S. One might call this over-regulation, however others may say you are too dumb to know better so the U.S. is saving you from yourself as you cannot possibly know how to invest.

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