How to Make a Million Dollars an Hour
from truthdig:
How to Make a Million Dollars an Hour
Posted on May 23, 2013
By Nomi Prins
How to Make a Million Dollars an Hour: Why Hedge Funds Get Away With Siphoning Off Americas Wealth
A book by Les Leopold
Les Leopolds latest masterpiece,
How to Make a Million Dollars an Hour: Why Hedge Funds Get Away With Siphoning Off Americas Wealth, is necessary, alarming and really funny. His talent for deconstructing complex financial terms and topics constitutes a public service. What he reveals in How to Make, in a sardonic and appropriately irreverent tone, is something more ominous. We exist in a political-economic system that allows people who manufacture nothing and bet on everything to control the financial destinies of the rest of the population with impunity, and make stupendous amounts of money doing it. Because, as Leopold writes, Making a million an hour means never having to say youre sorry.
That inanity is what makes Leopolds book so important, especially now, when the powers-that-be are pretending were back to our pre-2008-financial-crisis statusand thats a good thing. Hey, the stock market hit all-time highsthats never happened ahead of a major catastrophe before!
His handbook approach to a pretty arcane topic is hilarious and horrifying. His lively chapters are divided so that they read like a twelve-step Capitalists Anonymous program on how to achieve wealth nirvana.
Theres Step 2, Take, Dont Make, which asks how can these hedge fund managers who create absolutely nothing tangible be rewarded so outrageously for it? Theres Step 7, Dont Say Anything Remotely Truthfulwell, that speaks for itself. And Step 9, Bet on the Race After You Know Who Wins, gets to the heart of how these managers, who inspire a plethora of reverential business magazine profiles and books, arent doing anything particularly daring or even smart. Hell, its not hard to find the bodies if youre the one burying them. ...................(more)
The complete piece is at:
http://www.truthdig.com/arts_culture/item/how_to_make_a_million_dollars_an_hour_20130523/