Tag: hedge fund managers

IT’S A SMALL CLUB AND YOU’RE NOT IN IT

Not only do these guys “earn” obscene amounts of money in the rigged casino called Wall Street, they have a tax deduction written just for them called the “carried interest deduction”. It allows them to pay absolutely no taxes on the earnings related to their fund’s performance. Most of these guys pay little or no taxes on these “earnings”. A garbage truck driver making $50,000 per year probably pays more in taxes than some of these billionaire hedge fund managers. That’s called winning in the oligarchy we call America.

Infographic: The Globe's Highest-Earning Hedge Fund Managers | Statista
You will find more statistics at Statista


WHO DO YOU THINK BERNANKE WAS WORKING FOR?

Ben Bernanke is paid more in three hours for chit chatting with a bunch of billionaire hedge fund managers than 5 households making the median ANNUAL income of $50,000 bring home in an entire year. Who benefited from Bernanke’s QE and ZIRP?  This couldn’t possibly be a Wall Street payoff for a job well done. Right?

They call this free market capitalism. I’d call Bernanke a whore, but that would be an insult to all whores.

Ben Bernanke to address eight top hedge funders

By Mara Siegler

March 27, 2014 | 1:38am

Former Federal Reserve chairman Ben Bernanke was booked for an intimate dinner Wednesday to address eight masters of the universe at Le Bernardin, we hear, including hedge funders David Einhorn, Louis Moore Bacon, Larry Robbins and Mike Novogratz.

Sources said Bernanke’s expected to make about the same $250,000 fee he commanded at a recent Abu Dhabi speech.

A spy said topics would include “the 2008 banking crisis, the current state of affairs in Washington and monetary policy” at the dinner hosted by trading firm BTIG, which was co-founded by former Goldman Sachs partner Steven Starker.

Bernanke will reportedly get another $300,000 for an upcoming talk in Turkey this year.