The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Let the Air out of Their Balloons!

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.