Apr 6, 2009
Everyone’s income is going down in this horrible economy. But for the top 25 hedge fund managers, “down” means only down to 12 billion dollars.
The top three managers averaged two billions dollars each in 2008. That comes to about five and a half million dollars per day. The “lowest” paid of these fund managers got about five million dollars per week.
And for what? For helping to inflate a speculative balloon, whose deflation wrecked all those 401(k)s.