"The sweeping story of the three economic bubbles that defined the decade begins with the tech bubble, its apex marked by AOL’s audacious takeover of Time Warner. The deal signified the heights and hope of the dot-com boom, a chapter that saw the creation of scores of high-flying internet companies, many of which would die an early death. The middle of the decade brought the housing boom and the formation of the real estate bubble. It was the age of easy money, with banks all too eager to fund new construction, and developers and homeowners all too eager to take on loans they couldn’t afford. The last bubble of the decade to burst was the credit bubble, exemplified by private equity firms awash in money and on the lookout for takeover targets. In some cases, these private equity deals and leveraged buyouts resulted in a lucky few making a fortune, with the targeted company loaded up with debt and ruined in the process."
Friday, December 11, 2009
Bubble Decade: Technology, Housing, Real Estate, Money, Layoffs, Companies, Unemployment, Internet Pioneers, Business, Markets, Finance - CNBC.com
Bubble Decade: Technology, Housing, Real Estate, Money, Layoffs, Companies, Unemployment, Internet Pioneers, Business, Markets, Finance - CNBC.com: