Instead, it reflects the valuation excesses of the bubble era, which have been reduced but not eliminated.

Even in the bubble era of the late 1980's, Japan's growth rate was closer to 4 percent.

Americans hate to lose, especially when it comes to money, and they've demanded an accounting of the misdeeds of the bubble era.

The author contends that the chop-house abuses of the early 90's helped set the stage for much broader manipulations during the bubble era.

But now that the bubble era is over and many financial companies are tainted with scandals, the trends are starting to reverse, they say.

During the bubble era, real estate prices reached unprecedented levels.

Small stocks had their best year ever and some stars of the bubble era made impressive comebacks.

"I never knew the bubble era, so my way of looking at things can't help being different," she says.

Of course, any list of top executives from the bubble era is bound to include some flameouts.

"My generation entered the workplace at the end of the bubble era, so many of my contemporaries are being hit by job cuts," he said.