Summers Says Technology Bubble Concern Shows Sentiment Gain

Former U.S. Treasury Secretary Lawrence Summers said rising concern that technology stocks are in a bubble shows how sentiment has rebounded since the 2007-2009 American mortgage and credit collapse.

“Who could have imagined that the concern with respect to any American financial asset, just two years after the crisis, would be a bubble?” Summers, who is now a professor at Harvard University, said at a conference today in Shanghai. “Yet that concern is increasingly raised with respect to American technology, with respect to certain other American assets. That is a reflection of the resumption of confidence.”