3 ms·
> I think the general feeling is that the rich "got away" unpunished with the 2008 crash.. However, the rich did not cause the crash of 2008. The banks did. Th
by charlesdm 9y ago
> I think the general feeling is that the rich "got away" unpunished with the 2008 crash..
However, the rich did not cause the crash of 2008. The banks did. The rich took a hit in 2008; just like anyone. I know plenty of (previously) rich people who were wiped out because they were overleveraged at the time.
Their net worth did come back, because the government essentially gave a ton of free money away via QE, leading to massive asset price increases since 2008.