Having lived through a couple big market busts over the past 30 years, it's interesting to see that almost all of them were caused by a loosening of standards.
e.g.
- DotCom boom was letting companies IPO even if they had no revenue
- Great Recession was due to loosening credit restrictions for mortgages e.g. giving people NINJA (no income, no job) loans
e.g.
- DotCom boom was letting companies IPO even if they had no revenue
- Great Recession was due to loosening credit restrictions for mortgages e.g. giving people NINJA (no income, no job) loans
so very curious to see how this plays out.