The $12,800,000,000,000 Heist

[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.

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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?

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4 thoughts on “The $12,800,000,000,000 Heist

  1. I think that we have a good idea where “it” went. It didn’t go to the
    middleclasses or the lower classes.

    So, M_R, I repeat a question to you that I presented recently in a previous comment that you ignored. How do we get it back? A related question might
    be, can we ever get it back?

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