1 in 4 millionaires lose status in 2008

[jeffrey]

The financial crisis has weighed heavily on American households, and millionaires are no exception, according to a report released Wednesday.

The number of American households with a net worth of $1 million or more, excluding the value of their primary residence, fell 27% to 6.7 million in 2008 from an all-time high of 9.2 million the year before, according to a report from market research firm Spectrem Group.

"America has a lot fewer millionaires than when this economic crisis began," said George Walper, president of Spectrem Group, in a written statement...

America lost 2.5 million millionaires in 2008 - survey - Mar. 11, 2009

[GrimJack]

I heard that the world has lost 1/3 of its billionaires Is okay to celebrate?

[EEinNJ]

I wonder how many were Bernie Madoff's clients?