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Man from facebook. >> that's right. senator schumer wants to make this let toe active for people who surrendered their citizenship in the last 10 years. there are thousands of them. and the number has been growing. >> the despicable trend that saverin exhibits must be stopped dead in its tracks. facebook has 900 million users. but mr. saverin's social network is about to get a lot smaller. >> but, ex-pats would only have to pay taxes on their u.s. income in the future, shepard. >> shepard: peter, we learned late today that facebook plans to price its shares initially at $38 in that initial pub...

York times is reporting it's at least $3 billion because of the hedging revealed last week. >> facebook a big public offering coming up. we have the price how is it going to go? >> it will price initially tonight. facebook increased the price range between 23 and $38 as share. that would raise $104 billion that's what they would value the company as raising 16 billion in the ipo. that would make it the third biggest ipo in the u.s. essentially behind vista and general motors. >> this is a big one. meanwhile sketchers had these tones shoes but they were accused of hyping up the toning benefit t...

i'm erin burnett. outfront tonight, breaking news. the market plunged today to its lowest level since january. the reason, in part, a continuing fear about greece. so tonight the big question is will the late-breaking news from facebook be enough to turn the mood of america? facebook will begin trading for the first time ever tomorrow morning. so it priced tonight at $38 for a single share. when you add it altogether, it is the biggest ipo in american history. the facebook obsession in this country reminding us of the 1983 classic movie "trading places." >> i remember ipos like that....

People close to you is attractiveness. is it $104 billion left? not gm cars, not the type of thing that drives up valuation. like maybe elmer's glue or something. or porn! but you're not going to get gm -- >> go ahead. you said porn he raises his hand. >> i wasn't asking. i was addicted to porn. >> and on a separate note and nobody has said this and i'm just going to say that. don't you just want to smack mark zuckerberg in. >> no. i'm sorry. i have a question. >> what's that? >> what is the purpose other than the obvious of air force base and twitter. why do i have to realize that when i look...

Welcome back to "morning joe." let's look at some of the morning papers as you wake up. from "the new york times" business section, the $1 billion deal with inthat st at gram. facebook paid 30% in cash and 70% in stock. the deal was framed around the assumption that facebook would be worth about, are you ready for this, $104 billion. once it starts trading publicly. >> and it's the average age of the owners is like 14. 14 or 15 years of age. >> that's almost as much as harold ford inc. >> we were valued at $92 billion. let's go to new orleans. tomorrow marks the second anniversary of the gul...