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Fact Check On Banking Losses In The Financial Crisis

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In this interesting poscast with Nassim Taleb:

http://www.econtalk.org/archives/2013/09/taleb_on_skin_i.html

Nassim says that in the 2008 financial crisis bankers lost around $4.7 trillion, and this figure is more than the total banks have made as profit since the beginning of time.

This is quite a statement, does anyone know if this is true, and how he got to this figure?

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In this interesting poscast with Nassim Taleb:

http://www.econtalk.org/archives/2013/09/taleb_on_skin_i.html

Nassim says that in the 2008 financial crisis bankers lost around $4.7 trillion, and this figure is more than the total banks have made as profit since the beginning of time.

This is quite a statement, does anyone know if this is true, and how he got to this figure?

Bloomberg 9/3/2009

'Some of the world’s biggest financial companies including Lehman Brothers Holdings Inc. and Merrill Lynch & Co. have collapsed as banks and other financial institutions reported almost $1.2 trillion of losses and writedowns since the start of 2007. Global stock markets lost about $28.7 trillion in 2008, and another $6.6 trillion has been wiped from the value of world equities in 2009. '

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