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This cash has been injected into giving students more of what they want.
Much of this cash has been wasted on things that have nothing to do with education plush dormitories, gleaming stadiums and armies of administrators.
Flooding back into Treasury bills, this cash has contributed to keep American interest rates at rock bottom and fueled a bubble of reckless mortgage lending.
So far very little of this cash has been put to work.
This cash has paid for 506 of the 543 additional teachers across Scotland rather than core local authority education budgets.
Based on Federal Reserve studies of what homeowners did with the cash raised in previous refinancing waves, approximately one-third of this cash has been used for debt repayment, one-third for home improvement and other investments, and the remainder on a wide array of consumer goods and services.
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Christine MacDonald, an idealistic young environmentalist, discovered how deeply this cash had transformed these institutions when she started to work for CI in 2006.
I contacted Begbies Traynor to ask how it was possible that they could swipe this cash, having previously told your wife she was debt-free.
Sorry, but the cash has dried up.
Nearly all the cash has been returned.
Since around three quarters of this PPI cash has been handed out over the past 18 months, this is probably the single biggest contributor to the revival of consumer spending.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com