Businesses overinvested in high-tech equipment, and when profits failed to materialize, many of these firms went bankrupt. In the end, the economy was left with an overhang of high-tech capital, which is exerting a drag on economic activity to this day. Does this experience call into question the economic potential of these new information technologies? I don't think so.
As such, we have implemented a long list of regulatory relief measures to ensure stability of the financial system.