ECON WITH NEDA: Financial giant backs out of Facebook deal

Just over a week after Goldman Sachs offered its most prized and selective clients a chance to invest in Facebook, the firm randomly announced on Jan. 17, 2011 that it withdrew the opportunity from their clients in the United States. However, Goldman Sachs said, “In light of this intense media coverage, Goldman Sachs has decided to proceed only with the offer to investors outside the United States.”