Gordon Brown is fond of labouring the point about how the government has freed UK business from the 'boom and bust' legacy that typified the UK's economy under the Conservatives.
Ironically, if a recent incident in the US is echoed over here, New Labour's economy could be heading for the kind of slump that the Chancellor is claiming to have eradicated with his softly-softly approach.
As the Lastminute.com fiasco unfurled over here, leaving hundreds of investors disappointed, the US Securities and Exchange Commission (SEC) was busy enforcing an aggressive crackdown on accounting practices to inject some financial reality into the dotcom market.
The first casualty of the war on hype came in the middle of last month when the chief executive of US software supplier Microstrategy saw his personal fortune plummet from just under $10 billion (£6.3bn) to a little more than $3 billion (£1.9bn) in one day.
Take a look at Microstrategy's share price history and you'll understand the story. Some might not class it strictly as a 'dotcom': the company was formed in 1989 and has an established track record as a bricks-and-mortar data mining firm. But just last year, under the guidance of young firebrand chief executive Michael Saylor, the firm reinvented itself with the launch of a subsidiary, Strategy.com, which distributes personalised data to handhelds and mobiles.
Analysts agree that Microstrategy's recent stock jump - the largest jump being from about $15.50 (£9.77) in April 1999 to $333 (£210) a few weeks ago - is very much thanks to its dotcom halo.
The rise and fall of Saylor's star
As the stock price rocketed, noisy, brash Saylor became famous in his hometown of Washington DC. He put his new-found wealth to work immediately, treating his 1,600 employees to a Caribbean cruise. He topped the list of Washingtonian philanthropists by donating $100 million to start an online university.
At the height of the share price boom, Saylor told the Washington Post that he had calculated his time was worth about $600,000 (£380,000) an hour.
He also read 250 books in preparation for the construction of a made-to-measure dream house in Washington, complete with a 50-acre backyard. His star had certainly risen.
Then failure and ignominy struck Michael Saylor like a slap in the face two weeks ago. At the highest point of its arc, Microstrategy was forced to announce that its accounting practices might not have been strictly correct, and told shareholders that the regulators, in the shape of the SEC, were taking a look.
The result? Microstrategy restated its accounts for the past two years, knocking 25 per cent off revenue for 1999. The share price plunged to $76 (£48) before picking up again.
After the stock plummet, the Post couldn't help but publish a list of the 10 ways losing $10 billion (the amount Saylor lost over a period of 10 days) can cramp your lifestyle: 'Can still have lunch with Dow, but not Jones. Wallet no longer leaves attractive bulge in pants. Online university? Try online pre-school.' And so on.
To be fair, Saylor has taken it all in good part. "I don't feel any different," he said after a reporter asked him the one question on everyone's lips - how does it feel to lose that much dosh?
From class act to class-action lawsuits
But where does this leave Microstrategy? Well, fighting its shareholders is going to occupy its time for a while - six separate groups have filed class-action suits on the basis that they lost money because Microstrategy couldn't get its figures right.
Microstrategy's customers should be fine. The company's future is not in doubt, because this is largely an accounting matter. It's a question of restating money in the right year, not losing that money. The company hit trouble for counting its chickens and booking a significant portion of its revenue from deals up front, rather than spreading them over the length of the contract.
In the long term, it's not just Saylor's company stock that is down, but his personal stock as well. His signature is on the restatement letter to the SEC, and it is he who must take the blame for this defeat.
Ignorance is not really a defence. There is a long history of software companies falling foul of the SEC's regulations on revenue recognition. Whether or not the dotcom generation is as savvy, is open to question, but they should take this as a warning that there are plenty of sharp-minded bureaucrats out there ready to burst the bubble.
The future for Saylor? Well, we can only assume his time is now worth a mere $100,000 an hour. Lord knows how he'll scrape by on that.
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