The US economy is apparently in bad shape. What is less clear is how we came here.
Opinions differ as to when and where the story begins, but many experts are tracking the origins of the current economic bubble on the real estate bubble that emerged at the beginning of the decade.
Housing prices rose more than 6 percent in 1999, rising rapidly and steadily over the decade, according to a Brookings Institution study.
Nortel Still Looking for Bottom
The hits keep on coming in the telecom equipment sector. Last Friday, Nortel Networks became the latest victim in the plague that has struck Cisco Systems (CSCO, info), Lucent Technologies (LU, info), and JDS Uniphase (JDSU, info).
The Ontario-based company warned that it expects a second-quarter operating loss of $1.5 billion, or 48 cents a share, much larger than the six-cents-a-share loss Wall Street expected. Including one-time charges, Nortel expects to
Online broker Ameritrade has a reputation for entertaining television ads. So, too, has rival E-Trade. But their stocks have turned in less-than-amusing performance.
Just look at how these brokerages performed after reporting results that exceeded even the most optimistic expectations. In the first quarter, Ameritrade netted 306,000 new accounts — nearly equal to the 332,000 new accounts it tallied in all of 1999. Still, the stock price dropped — along with the rest of the Nasdaq