General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThese hedge fund managers made $4.7 million last year. PER DAY.
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That puts the leaders of the hedge fund industry, a secretive and lightly regulated group, well ahead of banking executives, who have been put under greater scrutiny since the 2008 financial crisis. Jamie Dimon, chief executive of the largest bank in the country, JPMorgan Chase, made a relatively measly $25 million last year by comparison. Another frequent target of Wall Street critics, Lloyd Blankfein, the chief executive of Goldman Sachs, made $23 million in 2015.
Meanwhile, the hedge fund industry has doubled in size over the past decade, and executives are bringing in high pay despite weathering a tough year in the financial markets. Dan Loeb, the head of Third Point, a large and well-known hedge fund, said in a letter to investors last month that the industry is in the first innings of a washout. Five hedge fund managers made enough to rank among the industrys highest paid despite losing money in at least one of their funds in 2015, according to Institutional Investor.
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https://www.washingtonpost.com/news/business/wp/2016/05/11/these-hedge-fund-managers-made-4-7-million-per-day-last-year/
tk2kewl
(18,133 posts)cali
(114,904 posts)pangaia
(24,324 posts)Equinox Moon
(6,344 posts)I believe that has components to slavery.
The people do the work and the owners make the money.
lostnfound
(16,138 posts)What's Hilary's position on that?
just4lulzidk
(60 posts)if you reach a certain amount of obscene wealth, then you should get taxed 90% on every cent you have
because obvs if you reach a certain amount of obscene wealth, then you're not trickling that money back into the economy like you should, as the right-wing economic myth goes; in reality, you're just a money-hoarder with a monopoly on money