It's not really a bubble. It's more of a gold rush. A new way to get rich has opened up, and it's not clear who will succeed and who will fail. So people rush in and stake claims.
The other factor is that there has been a huge loss of faith in Wall Street. The SEC and ratings agencies don't seem to be able to do their job in the face of increasingly complex financial products being brought to market.
I think that a lot of investors prefer losing their money on a crazy idea that failed to losing money to fraud.
The other factor is that there has been a huge loss of faith in Wall Street. The SEC and ratings agencies don't seem to be able to do their job in the face of increasingly complex financial products being brought to market.
I think that a lot of investors prefer losing their money on a crazy idea that failed to losing money to fraud.