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Politics : Politics for Pros- moderated

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To: Lizzie Tudor who wrote (12630)10/17/2003 12:25:17 AM
From: Nadine Carroll  Read Replies (1) of 794032
 
But Liz, the bust started in 2000 before Bush was even elected.

All those new IPOs who had no business being in business except to sell shares went poof! in 2001. Then their employees got fired, their computers and routers got sold at fire-sale prices, so that AT&T and Cisco had the nightmare experience of competing against their own new equipment at 70% off, and IT spending got slashed across the board as investors in all markets discounted hope and started demanding actual profits again - during the boom, all you needed was growth. The economy affects the market, the market affects the economy.
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