[quote=briansd1]
In contrast, financial fraud during the bubble was probably something like $1 trillion (or who knows how high). [/quote]
If total global credit losses ultimately come to $2 trillion… that would mean half were the result of fraud (as opposed to stupidity/bad judgment). That seems high, although clearly there has been a shitpile of fraud.
[quote=briansd1]
That was enough to pay for the Health Care Reform bill and enough to pay for the Iraq/Afghanistan war.[/quote]
One could argue that the Iraq/Afghanistan war and a large portion of our health care system are “frauds,” for all intents and purposes. Just sayin’…
