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(Reuters) - Facebook's shares fell again on Tuesday as questions mounted over the company's long-term prospects and the top U.S. securities regulator called for a review of the problems surrounding its initial public offering last week.
The comments urging a review, by Securities and Exchange Commission Chairman Mary Schapiro, added pressure on the company, its underwriters and the Nasdaq, all of which have taken blame for the stock's troubled opening and subsequent sharp decline.
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"Thus, what we see are a series of bad decisions made by Facebook's executives going back many years. The insiders got greedy, too clever by half, in how they used secondary markets. They picked a bad banker and an awful exchange," Ritholtz said.