We all know who were the big winners during the period leading up to the crash. But who were the winners of the crash itself question once again, we know only too well who the losers were, but in every game in life there are those who win and those who looms. In this particular span of the wheel who comes out on top?

During the way up, the great beneficiaries were the merchant and mainstream bankers who pocketed the bonuses for all the illusory profits they helped generate. When the bubble finally did burst all these bonuses were already paid out and there was no legal recourse against those who had pocketed them (e.g. AIG). Meanwhile, the banks suffered when the blow hit. Some bankers lost their jobs, but the bonuses were still in their accounts. Similarly, the merchant banks failed, but the merchant bankers prospered.

Now, with all that money lost, the "too big to fail" argument kicked in and the governments stepped in to forestall global economic catastrophe. In reality, at that point they had no choice, as the potential for calamity was so great it was impossible to not to act. Trillions of dollars in value disappeared. The result: more regulation and government control.

In Tai Chi, if you wish to move your opponent to the right press them to the left. They respond by resisting and once you remove the pressure the momentum of their own resistance carries them in the direction you originally intended them to move in. Then, all one need do is to assist them in that direction.

Regulation creates loopholes. Who are the first to catch the loopholes? The players. And then, instead of being vilified, they get accolades from the rest of us for their financial acuity. Then, they offer some of us the chance to get in on the action and we happily give them our money once again. A recent example is Donald Trump, who almost immediately after having declared bankruptcy had no difficulty finding investors to provide him with additional funds. Then he rubs our noses in it by creating a reality show where he sits as judge injury deciding on the competence of moral character of the show's contestants. Here is someone who truly understands and has mastered the game.

What everyone forgets is that all of this was largely inflated value - virtual money that never really existed. Now, we redistribute what's left and the proportion of the total wealth accruing to the bankers has multiplied. Money was made on the way up; perhaps even more was made on the way down.

Who loses? Everyone else! Another scam to fleece the suckers. In this light even the actions on the part of Congress and senate begin to look suspect.