Looking back over the past 10 years, it is remarkable to consider the number of significant events that transpired during the last decade, which rocked the capital markets. Beginning with Sept. 11 and ending in the aftermath of a severe financial crisis, this was a decade marked by tragedy, crisis and fraud. But all the while, this was also the decade during which the Internet exploded—websites, e-mail, text messaging, smartphones and social networks became ubiquitous—dramatically changing the way, and speed in which, we obtain information and communicate. In reaction to these events and changing times, the government responded with numerous new rules and regulations forever changing the landscape of the securities laws and the way capital is raised.
As the decade began, markets were reeling from the effects of the dotcom bubble burst and the telecom meltdown of 2000. The events that followed included the collapse of Enron, Arthur Andersen, WorldCom, Bear Stearns and Lehman Brothers, the housing and subprime mortgage crisis and the Madoff scandal, among others. The decade was brought to a close following the roller-coaster ride of 2008 to 2009. With the stock market in free fall and chaos on Wall Street, the government stepped in with unprecedented bailouts and major new legislation.
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