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The high-tech industry may experience a bubble every few years, but it doesn't exist in one. Bad news for the overall economy inevitably hurts the tech sector. Here's how it could happen this time: The money mess Mortgage foreclosures: the bursting of the housing bubble meant record mortgage defaults, which meant those notes were worthless to the financial outfits holding them. Ruin on Wall Street: The ability of bright people to do dumb things never ceases to amaze, as several Wall Street stalwarts crumble under the weight of their bad debts, and banks such as Washington Mutual have to be rescued by the federal government. The credit crunch: Banks don't trust each other any more than regular people trust the banks, so they won't loan each other money. When they do, it's at outrageous rates. That means the rates they charge... [read full story]
