If I remember correctly, the Survey of Consumer Finances estimates that the richest 10% of households owns something like 85-90% of all publicly traded stock. If 49 million households own some stock, which would amount to about of all households, then the majority of these households couldn't have lost much since they didn't have much. (I'm always dubious about the spread of stock ownership but thats another issue). So it would seem that the recently minted and trust fund trash took most of the hit. Or the pension funds? Actually, does a loss like this have any significant impact?
Dennis Breslin
Carl Remick wrote:
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> [From TheStreet.com]