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A big reason the dot-com bubble was bad was because normal people with more to lose were depleting their retirement savings buying stock in stupid companies tha
by maxawaytoolong 16y ago
A big reason the dot-com bubble was bad was because normal people with more to lose were depleting their retirement savings buying stock in stupid companies that recently went public. There are no more IPOs. The public at large cannot participate in this bubble. This financial part of this bubble involves a bunch of rich guys and even richer investment firms. Who cares if these people lose .001% of their net worth betting on startups?
- jwh 16y agoThe problem is the 'rich guys' are using the average Joes money, often lent to/invested with them by banks and pensions funds to try and secure the largest return possible. Even if they're using their own money, the cynic inside me predicts that if/when the house of cards comes crashing down, Mr and Mrs Taxpayer will be asked to 'stabilise' the industry in the interests of national economic security.