Over nine million American families lost their homes in the aftermath of the 2008 financial crisis and millions watched their retirement savings evaporate. Meanwhile, the Wall Street banks that caused the crash were doling out executive stock options that would generate huge windfalls once bailout funds had pushed up their stock prices.
Then, thanks to a perverse loophole in the tax code, the banks were able to write off the entire cost of the options and other bonuses, leaving ordinary taxpayers to make up the difference.
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