of that stuff was going on. and nobody got prosecuted for it. . at the banks, were there e-mails saying hey, we know this stuff is toxic or we know it s not going to work or we know it s junk? yeah, absolutely. a great example is the bear stearns hedge fund blew up. this was the one case that went to trial. blowing up of this fund is what caused bear staerns to go out of business. but they had e-mails saying look, we are never going to make money on this stuff. and then a few days later, they were out saying publicly, this isn t a disaster, it s all going to be fine. that s just straight up fraud when they do that. that s what a wall street crime looks like and they weren t convicted for it. then you ve got goldman sachs e-mails. why are they doing it, right? it seems like that s going to sink your company.
dow jones industrial average, there s actually a sharp corner where the graph goes up. that was the beginning of the.com bubble. why did that happen in 1995. why didn t it happen in 1985. why didn t it happen in 2005? why didn t it happen at all. the depression era generation is retiring it understood the dangers of financial risk they had grown-up in the great depression. the baby boomers that took over only knew the upside only knew about prosperity. they took over wall street and had the hunger for profit they realized something else that up until this point the investment houses had been partnerships. all of the banks that blew themselves up they were all publicly traded bear staerns, neiman brothers, they used to be partnerships and now they became publicly traded. when you were a partner in a