When a bank underprices an IPO, they can conveniently steer these underpriced shares to favored clients and connections. http://dealbook.nytimes.com/2011/05/27

When a bank underprices an IPO, they can conveniently steer these underpriced shares to favored clients and connections. http://dealbook.nytimes.com/2011/05/27/why-i-p-o-s-get-underpriced/ http://dealbook.nytimes.com/2011/05/27/why-i-p-o-s-get-under... Doesn't seem like a mistake in that light, does it?