So after the Great Depression, what happened is an underwriting guidebook got put in place for Wall street and certain conditions had to be met for these companies, for the investment banking community to take these companies public. Unfortunately, During the height of the Internet bubble, all these sins came back in place. So they threw away their underwriting guidebook. So no longer did a company have to be in existence for five years. No longer did it have to be profitable for three years. (10:53–10:58)
CLAIM
Asserts that financial malpractices from the Great Depression era reoccurred during the Internet bubble.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
