Also, banks tightened lending standards for real estate (commoners). My guess is that they didn't do the same for corporations. So all the money went to corporations... Probably stock buybacks; so it went to shareholders; tax-free too; and even when the shareholders decide to sell, they'll only pay capital gains tax, which is lower than income tax.

The stock market is a scam. A the biggest pyramid scheme the world has ever seen. CEOs who understand how the system works and willingly participate in it are criminals.