Where did the bailout money go?

[NJ5]

chapset said:
where did the money lost buy bank, morgage owners, and the 1.4trillion lost by wall street go?

It never existed. It was virtual money, an entry in a computer database. Of course, it was supposedly backed by real-world assets such as houses, but those assets were valued above their real value.

When the value of these assets started dropping to more realistic numbers, that's when the real picture about the viability of these institutions became clear.

There is a lot of funny (virtual) money in the world which will disappear in the weeks, months and years to come. It's a scam, the biggest Ponzi scheme ever, and we're all participating in it directly or indirectly (some of us as scammers, some of us as victims).