On: Facebook raises $1.5 Billion at $50 Billion Valuation

It seems to be a valid alternative: http://en.wiktionary.org/wiki/chomp_at_the_bit

It isn't. Horses champ at their bits when they're anxious to go. Post-rationalizing "chomping at the bit" is simply incorrect.

Prescriptivists acting as if their fetish is important is more amusing when it's not distracting from demonstrably more valuable subject matter.

I wasn't using some of kind of mongoloid newspeak.

Chill out