I just don't quite understand Facebook at times, why spend $1 Billion on Instagram only to create a competitor in Facebook Camera? Was the acquisition just to get rid of competition?

Switzerland’s UBS AG (USA) (NYSE:UBS) is now reported to be the biggest loser. While the bank has not disclosed the total loss realized, The Wall Street Journal and CNBC have estimated the loss to be around $350 million.

If these reports stand are true, then UBS will be the largest loser in the IPO to date. The Switzerland based bank has vowed to use all means to recoup its losses, but insisted that it is yet to file a lawsuit over the matter, a company spokesperson said.

Why any investor would willingly do business with Morgan Stanley is hard to understand given their track record of governmental violations and questionable business operations. Could it be perhaps that investors’ opinion of MS is based primarily on the image projected through their not inconsiderable budget for public relations, marketing and advertising rather then these public facts?

Morgan Stanley’s governmental investment violation

* 2002 Illegal rewards for selling affiliated mutual funds $2.25 million
* 2003 Conflicts of interest research analysts $75 million
* 2003 Inappropriate influence and improper “spinning” $400 million
* 2003 Censure and penalty for illegal marketing of IPOs $100 million
* 2004 Failure to deliver documents to investors $13 million
* 2005 IPO Violations $40 million
* 2005 Failure to disclose info to mutual fund clients $6.25 million
* 2005 Willful violation of the Advisors Act of 1940 $208 million
* 2005 Failure to supervise its sales force $5 million
* 2006 Failure to maintain and enforce policies $10 million
* 2007 Failures for best execution $7 million
* 2007 Failure to supervise sales peoples deceptive actions $15 million
* 2007 Provided false information to regulators $12 million
* 2007 Failure to provide customers with required information $17 million
* 2005 Improper sales of securities $8.5 million
* 2008 Inappropriate sales of auction rate securities $35 million
* 2008 Misled tens of thousands of investors $100 million
* 2009 Failed to supervise sales people $5.4 million