How Have the Bankers Done in the Lesser Depression?
Investors in Goldman Sachs have lost more than half their money since 2007:
Investors in Morgan Stanley have lost more than three-quarters of their money since 2007:
Investors in Citigroup have lost 93% of their money since 2007:
Investors in Bank of America have lost 85% of their money since 2007:
Investors in Bear Stearns, Lehman Brothers, and Merrill Lynch lost more than 90% if their investments as well…
Talk about a bunch of people who had a really strong financial incentive for reflation...
