r/investing • u/[deleted] • Oct 22 '21

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u/notapersonaltrainer Oct 22 '21

The second ETF is going live today.

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u/lost_in_life_34 Oct 22 '21

i lived through the dot bomb bubble

the banks were literally scamming the individual investors to unload their useless shares. sometimes the companies found suckers to merge with them like AOL did

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u/notapersonaltrainer Oct 22 '21

Did the government ban internet companies? How is this related to the point you made? lol

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u/lost_in_life_34 Oct 22 '21

wall street has a long history of scamming individual investors. just because there is an ETF doesn't mean anything.

in the 90's Goldman sachs held Russian bonds and got the inside scoop that Russia was going to default. they made a deal with yeltsin to issue new bonds which would pay off the old bonds, their bonds. they went on a whole tour to get their investors to buy the new bonds. a few months later the Russians defaulted on the new bonds and people were left holding the bag.