Diagram as commentary: how Goldman Sachs circumvents SEC with Facebook offering.

Reggie Middleton’s diagram for his post, Goldman Creates a Facebook Hedge Fund for HNW Clients Historically Ripped Off By Such Vehicles, Spits In Face Of SEC is not the prettiest or leanest of its kind but it’s probably a more effective device for communicating the same ideas to a wider audience than the corresponding number of sentences that would fit within its dimensions.