Wall Street Loses Money but Still Pockets Billions

[GoLeft TV]

In a recent article by Bloomberg, Chris Levett, Clive Capital LLP’s top-earning partner, made $33.5 million in the last year through February even he lost money for clients two years running. The most notable of his losses goes back to the 2011 oil crash when he lost $400 million in a single week. That year, he banked $3.6 billion.

In the wake of his new book’s release, Les Leopold has had a number of interviews with the likes of AlterNet and Ring of Fire Radio with Mike Papantonio. The crux of Leopold’s book, “How to Make a Million Dollars an Hour,” focuses on the inverted nature of production compensation in the American economy. Meaning, that instead of the instinctive thought that monetary earnings are based on the amount of tangible goods or services one produces, the richest people are the ones who produce nothing. Much like Levett.

Full story at Ring of Fire.

[Lucky Luciano]

1. He didn't make 3.6 yards in 2011.

They had $3.6B assets under management.