Though more and more people have dipped from the middle and working classes in poverty, the rich have been victimized most by the recession – at least they have in terms of dollars lost.

A study by Merrill Lynch reveals that the world’s rich lost 20 percent of their total wealth, mainly because volatile trading markets across the world wiped out two years’ gains.

The number of people with more than $1 million in net assets fell 14.9 percent, while the number of people with fortunes of more than $30 million fell by a quarter, the study showed.

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This entry was posted by Bill Simon, on Thursday, June 25th, 2009 at 11:32 am and is filed under Political Boxers and Tagged: crooks, Democrats, idiots, left wingers, liars, morons, Obama, rich, socialist
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