[Washington Times] The Wall Street collapse in 2008 and the ensuing financial crisis has cost the nation an estimated $12.8 trillion, according to a study released Wednesday by Better Markets, a Washington advocacy group that lobbies for financial reform and tighter regulations on Wall Street.
The financial downturn’s huge price tag, which Better Markets attempts to calculate by adding the estimated $7.6 trillion in lost gross domestic product from 2008 to 2018 and the estimated $5.2 trillion in government bailouts and incentives, doesn’t even include the more-difficult-to-quantify damage to the nation’s psyche, Dennis Kelleher, the group’s president and CEO said.
OK, there it is.
Now, who can tell us where that $13 trillion is?
Did it just ‘evaporate’ into thin air?
Was it all merely ‘on the books’ money?
Where’d it go?