I think it's true in 2008 many stockholders were wiped out. I know we owned GM stock and lost it. The same thing applied to some of the financial institutions--like Lehman. I think some banks did not go bankrupt; they were for pennies on the dollar by another bank. That means where an investor might have had Bank X stock worth $50 in 2007, when it was bought out the investor may have gotten $2.
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