Wednesday, September 30, 2009

THE WONDERS OF FINANCIAL INNOVATION

BANZAI7 NEWS--The super-rich are getting poorer with the 400 wealthiest Americans losing $300 billion of net worth in the past year, hurt by sagging capital and real estate markets, according to the annual Forbes magazine ranking.

The Forbes 400 list of wealthiest Americans, released on Wednesday, said Warren Buffett was the biggest loser, with the famed investor shedding $10 billion in net worth as shares in his firm Berkshire Hathaway tumbled.

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