DealBook: Goldman Limits Facebook Investment to Foreign Clients

Kid Dynamite submits: So today's non-story that's been somehow turned into a story relates to a letter that Goldman Sachs sent to clients of its "Fundamental Strategies Group," which was published by Andrew Ross Sorkin on the NY Times' Dealbook. "Dear client,

The investment firm Goldman Sachs has told its wealthiest U.S. clients they can not invest in Facebook. The offer will be limited to clients outside the U.S. Goldman's decision to shut U-S investors out comes after concern that the deal was drawing scrutiny from the Securities and Exchange Commission. For more, host Melissa Block speaks to Andrew Ross Sorkin, a reporter and columnist with the New York Times.

One of the hallmarks of a successful portfolio is supposed to be diversity. But diversity isn't just about asset class. You can also add diversity with the help of geography.

By stepping into the spotlight even a little, Goldman appears to be embarking on a subtle campaign to repair its reputation. The bank's message is simple: Goldman cares about its clients and its community.

The greater detail is intended as a response to criticism that Goldman Sachs has put its own interests ahead of those of its clients.

Goldman Sachs Capital Partners, a powerful unit at the bank that manages pensions and money for prominent clients, chose not to invest in the site before the recent deal came together.