And in the end, we were all chumps during the roaring bull market of the 1990s. There is a special psychological element to losses that people took during the tech rally.
There was a wave of corporate malfeasance, false accounting schemes, and complicity from those who were supposed to know better.
The entire system broke down. I'm not going against what I wrote earlier—everyone got too greedy and we all lost a little (or a lot) of our religion during the height of the boom period.