Quote:
Originally Posted by cartman
All of it was based on fabrications and funny money? That is a pretty bold accusation to make.
|
A lot of it was money created via the stock market boom, which was based on inflated earnings from a number of companies (Enron was only one, and lots were found to be fudging numbers in a not-quite-as-illegal way), and when the earnings fraud was uncovered the market took a nosedive and wiped out most of it as things returned to what actual money was there. Do you remember how many retirement accounts were wiped out because of Enron alone?