So the fleecing continues. General Motors IPO was instituted today. As of just a few minutes ago the stock was up by 8% Only problem is that the common man can not by the stock. You have to have a pre-approved account or be a pre-approved buyer. The guy in charge of the IPO basically stated that its not available for the common man, that the IPO will be sold to institutions etc. http://news.yahoo.com/s/ap/20101118/ap_ ... /us_gm_ipo "Most of the new stock will go to institutional investors, not to everyday investors, following a Wall Street system that rewards investment banks' big customers. GM will set aside 5 percent of its new stock for employees, retirees and car dealers to buy at the offering price. The deadline to sign up was Oct. 22, but the company has not revealed how many people took the offer."