The Spark

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

Three Million Dollars a Day

Apr 12, 2010

Hedge fund managers had a rip-roaring 2009, earning 25 billion dollars for the top 25 managers.

Hedge funds? Weren’t these the very funds that helped bring about the financial system’s collapse in 2008? Yes. Weren’t these the very people responsible for millions losing a big part of their pensions, thanks to these private speculators? Yes. Didn’t millions lose their homes? Yes.

So what happened with the hedge funds? They used their ties to the banks and the bankers to take a share of the stimulus money, thanks to our tax dollars. While we – and our children and grandchildren – will have to pay back trillions of dollars, the hedge fund managers are figuring out what to do with a billion dollars each, or about three million dollars per day.

These fat cat speculators were richly rewarded by a system that ruins the majority.

Tax day is a good day to ask why we should give them one cent more!