Word: dotcom
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Dates: during 2000-2009
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Goldman Sachs is a giant pig. A giant pig that blows bubbles through a wand shaped like a dollar sign. A giant pig that laughs at us when we invest in worthless dotcom stocks. A giant pig that happily watches us get carried away and burned by rising home prices. A giant pig that smiles widely when we have to fill our tanks with $4-a-gallon gas. Quite simply, the investment bank that is revered on Wall Street could just be a bunch of crooks, and greedy ones at that...
Goldman responds that this type of language is common on Wall Street. And that is the problem, and the problem with Rolling Stone's article as well. Goldman has done plenty wrong, but not much alone. Goldman may have assisted in the dotcom and housing bubbles, but it is wrong to say that it was the single blower. The only thing Goldman is solely at fault for is being a bit better at playing the game than its peers...
...Like the dotcom and property bubbles before it, the nascent IPO mania is being inflated by outsize expectations and good old-fashioned greed. Retail investors are growing tired of keeping their cash in banks that pay next to nothing in interest and are increasingly fearful of missing out on the stock market's continuing rise...
...late '90s, software entrepreneur John Zitzner was pretty close to being bankrupt. Yet within six months - in one of those typical "holy crap" dotcom-era stories - Zitzner had sold his company and become "a very modest millionaire." Fantastic. And in one of those typical "What do I do with all this money?" stories, he decided to help make the world a better place - specifically by co-founding a charter school in Cleveland. (Read TIME's report: "How to Raise the Standard in America's Schools...
...State Department doesn't usually take an interest in the maintenance schedules of dotcom start-ups. But over the weekend, officials there reached out to Twitter and asked them to delay a network upgrade that was scheduled for Monday night. The reason? To protect the interests of Iranians using the service to protest the presidential election that took place on June 12. Twitter moved the upgrade to 2 p.m. P.T. Tuesday afternoon - or 1:30 a.m. Tehran time. (Read "The Iran Election: Twitter's Big Moment...