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My first reaction to the The Motley Fool's underwriting an IPO was one of betrayal. How could these lying, conniving, bunch of scoundrels cash in on the community WE HELPED TO BUILD. Am I the only one who is upset with this? After years of exposing the inequities of the investment banking business, David and Tom have sold out.

So, I decided to do some snooping on As it turns out, the domain name is registered to The Motely Fool! Don't believe me? Check out and search the domain name

So what, you ask? Well, as it turns out, they have broken SEC regulations:

iv. In the case of entities (with the aforementioned exceptions of paragraph iii, above, and paragraph xvi, below)participating in the staffing, organizing, strategic planning, infrastructure development,marketing, sales, business process development, or other commerce related activities of entities within the 60-day inactivity period mandated by the United States Code 14456 prior to the public sale of equity falling under United States Code 13234, promotion, sale, or trade of such equity shall be prohibited. Violators subject to maximum penalty of $500,000 and 15 years imprisonment

The Motely Fool registered on February 20th. Since the IPO is today, they have violated the SEC regulation, since registering a domain name sure seems like "other commerce activity" to me.

Justice will prevail, fellow Fools. Looks like Dave and Tom will be trading in bell caps for prison garb. I'll give you update after I contact the SEC.
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