Facebook: Ingenious Waste Of Time

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Forget what you believe about Santa Claus: the fluffy white beard, the belly that jiggles when he giggles. No, Santa is a geek with red hair and an assortment of gray hoodies.

And on Wednesday, this Santa brought goodies to Wall Street.

To say the Facebook Inc. initial public offering is the biggest event on Wall Street this year is an understatement. It's not just about the numbers or the prestige given to Morgan Stanley and Goldman Sachs Group Inc. to lead it.

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