Where did money go?

The market is down. People are getting laid off. Mass scale lay offs are going on. Everybody is looking at Mr. Obama as if he is an angel sent by God to fix drooping economy. But I wonder where did all the money go? People lose millions in Stock Market. House prices have gone down, of course it is the right time to buy a house if you want tax benefits. what happened first? companies started losing money, declaring billion of dollars loss on their annual income statements or the illegal accounting practices which are the by product of the greed of high officials in the company. I am not saying all the companies are having illegal accounting practices. The major examples are Enron, World Com, Tyco etc. I think from here the downfall started and people lose their hard earned money. In my point of view that money if would have been used in constructive way, we could have more cash flows outside. If the children's of CEO's and other high officilas use Public company's resources for their self purposes, it cost public. Now companies are doing cost cutting. In one company which i know even for a pen an employee have to sign an application. That was not the case. But where is money going, I am still thinking. Circuit City is closed. They could not provide value to the public and could not face the competition with the Best buy. A few years ago K-Mart was closed in Dallas beacuse people did not find any values in their products. I do not know when this era of recession go but I just know a lot of students who are under debt and do not have a hope for job. But I am still confused atleast the currency printed by the Federal Reserve bank should be at some where whether in the legal or illegal form.