Excellent point! Except the banks collude. Here's some evidence: http://blogs.reuters.com/felix-salmon/2011/06/07/the-us-ipo-cartel/ http://blogs.reuters.com/fe

Excellent point! Except the banks collude. Here's some evidence: http://blogs.reuters.com/felix-salmon/2011/06/07/the-us-ipo-cartel/ http://blogs.reuters.com/felix-salmon/2011/06/07/the-us-ipo-...