Hedge fund managers make BILLIONS while american's get screwed

Hedge fund managers set new payout records in 2009

BOSTON (Reuters) – Seven of the world's top hedge fund managers earned 10-figure paychecks and one set a record for the highest-ever payout last year due to a stock market rally that pushed returns to their highest levels in a decade. Together, the industry's 25 best-paid managers collected a record $25.33 billion, more than double the amount they took home in 2008 when the financial crisis left many prominent funds nursing heavy losses.

news.yahoo.com...

Congratulations America!!!

Lose your job? F U.
Lose your benefits? F U.
No more raises? F. U.
Prices skyrocketing? F.U.
Lost your home? F.U.
Can't afford insurance? F.U.
Filed for bankrupty? F.U.

You know what...

F THEM.

Greedy piece of # a;lsdkfjl;askjdf;lkjasdf;lkasjdf;ljk.

They don't GIVE A F.

Pay of Hedge Fund Managers Roared Back Last Year

“We bet on the country’s revival,” Mr. Tepper, who describes his trading technique as a mix of deep analysis and common sense, said Wednesday in an interview. “Those who keep their heads while others are panicking usually do well.” That strategy handed Mr. Tepper, a plain-spoken Pittsburgh native who first made his name at Goldman Sachs, the top spot on the annual ranking of top earners in the hedge fund industry by AR: Absolute Return+Alpha magazine (subscription required), which comes out Thursday. His investors did not do badly, either — Mr. Tepper’s flagship fund gained more than 130 percent last year. The runner-up in the ranking was George Soros, the Hungarian émigré who has become better known in recent years for supporting Democratic candidates and making political headlines than for picking stocks. His fund, Quantum Endowment, grew 29 percent in 2009, earning Mr. Soros $3.3 billion in fees and investment gains. Hedge funds — the elite, lightly regulated investment vehicles open to a restricted range of investors — enjoyed a winning streak during the buyout boom that preceded the financial crisis in 2008. Then the bottom fell out of the industry, handing even top hedge funds double-digit percentage losses. In turn, the earnings of the top 25 fund managers in the 2008 survey tumbled 50 percent.

www.nytimes.com...

[edit on 1-4-2010 by David9176]

reply to post by David9176



They make their money either way

Thats what you earn for being a producer, hard work pays off!

Thats why lazy America needs to work harder

reply to post by Janky Red


You're right. Let's just keep doing what they tell us. They deserve to be billionares!!! They earned it!!

Meanwhile the rest of us are barely f'ing making.

I'm sick of it...and GD I don't know why in the hell other's aren't.

Instead...let's talk about socialists!!!

Geezus.

Unplug people...UNPLUG the television!!!!

Originally posted by David9176
reply to post by Janky Red

 

You're right. Let's just keep doing what they tell us. They deserve to be billionares!!! They earned it!!

Meanwhile the rest of us are barely f'ing making.

I'm sick of it...and GD I don't know why in the hell other's aren't.

Instead...let's talk about socialists!!!

Geezus.

Unplug people...UNPLUG the television!!!!

UNPLUG the television!!!

Originally posted by David9176
reply to post by Janky Red

 

You're right. Let's just keep doing what they tell us. They deserve to be billionares!!! They earned it!!

Meanwhile the rest of us are barely f'ing making.

I'm sick of it...and GD I don't know why in the hell other's aren't.

Instead...let's talk about socialists!!!

Geezus.

Unplug people...UNPLUG the television!!!!

UNPLUG the television!!!

If SOME movement had this as the mantra I would be listening and we would have a real fighting chance.

Instead we take the drug that causes the symptoms in the first place

[edit on 1-4-2010 by Janky Red]

reply to post by Janky Red

UNPLUG the television!!!

Exactly!!

Look around you. Do you think tax cuts is going to fix what is happening? Hell NO it's not. Taxes could be zero and we are still headed towards slave labor. Is this what people want?

For God's sakes people....start helping yourselves and not those who have already have the world in their hands.

The problem is there's no places left for the U.S. empire to plunder. Need cheap but rare metals from Southeast Asia -- send over the poor young males of America to kill a few million Asians. Need cheap commodities in Latin America -- fund some proxy wars to kill off a few million Latinos. How about Africa -- well slavery already wiped them out -- but I guess a few proxy wars are possible -- and if we're good at it, like the CIA was in Central Africa -- then 6 million can be wiped out!

And that's just the real economy. The speculative currency trading and derivatives on commodities makes mass slaughter look like candy. Remember old Red Shield pretending the British had lost to Napoleon so he could buy up all the government treasury notes that were dumped.

Oh yeah that's exactly what happened with this new Hedge Fund -- post crash mania -- government is forced to sell treasury bonds to bailout the hedge fund "investors" -- and then their stock shoots up -- and then they sell their stock back to the government! Oops I mean buy more treasury bonds. And the government sells off their shares of the bailout money claiming they made a profit.

It only took about 1.5 million kids and old people killed in Iraq from the U.S. enforced sanctions -- the blockade. Then another million killed in Iraq directly from the U.S. genocidal attacks....

2.5 million innocent people so that the CIA payroll president can be hanged. I mean Saddam Hussein that is.

reply to post by Janky Red


That's right because Greenspan was saying the housing prices would continue to go up -- encourage the middle class to get second mortgages so the U.S. economy could keep growing. What a scam the television is.

BTW it seems some of the political cricket farms are in fact the most telling of all OP's...

But there seems to be adversity to drawing ones own conclusion if the consequence is not spelled out in braille, sky writing and televised performance art spectacles.

Originally posted by drew hempel
reply to post by Janky Red

 

That's right because Greenspan was saying the housing prices would continue to go up -- encourage the middle class to get second mortgages so the U.S. economy could keep growing. What a scam the television is.

Well I think the bigger point is EVERYTHING, EVERYONE says only help perpetuate this
cycle. Both "sides" are being used to produce the objectives OP has implied.

Hedge fund managers make money from their investors, who give it to them. They provide a service to people and those people pay them. They're not taking anything away from you. WTF do you even care what they make? You're mad that you don't make as much? I'm mad I'm not an astronaut. Hedge fund managers don't get payed by the government. They get paid by their clients. If you don't want them to have your money, just don't invest in a hedge fund. They're operating completely independently of you. They have nothing to do with your misfortune. You and your money have absolutely nothing to do with what they are making. You've just identified a rich person and decided to complain about them because they are rich. If the people involved didn't think it was worth it to pay the hedge fund managers that much, they wouldn't. You're not part of the equation, you shouldn't and don't have any say. Direct some of this jelousy towards getting a better job.

the only thing that i can fathom out of my jaw dropping seizure right now! that is alot of funny money and hate to see these big investors when the dollar or this money is called in? just waiting to wake up and see that the dollar has finally funneled itself through the toilet and is sitting in some ones septic system per say!

reply to post by OnceReturned


No no -- Hedge Fund Managers get the "carried interest rule" -- which means they paid capital gains tax instead of income tax -- so they're indeed ripping off the working class.

motherjones.com...

Here is the expose on Wall Street finance owning D.C. -- February 2010

By the height of the credit bubble between 2000 and 2007, the financial industry earned a staggering 40 percent of all corporate profits recorded in the United States, four times what they earned in 1980. Over the same period, average pay on Wall Street doubled, while bonuses at the top sextupled.

[edit on 1-4-2010 by drew hempel]

Originally posted by OnceReturned
Hedge fund managers make money from their investors, who give it to them. They provide a service to people and those people pay them. They're not taking anything away from you. WTF do you even care what they make? You're mad that you don't make as much? I'm mad I'm not an astronaut. Hedge fund managers don't get payed by the government. They get paid by their clients. If you don't want them to have your money, just don't invest in a hedge fund. They're operating completely independently of you. They have nothing to do with your misfortune. You and your money have absolutely nothing to do with what they are making. You've just identified a rich person and decided to complain about them because they are rich. If the people involved didn't think it was worth it to pay the hedge fund managers that much, they wouldn't. You're not part of the equation, you shouldn't and don't have any say. Direct some of this jelousy towards getting a better job.

... and ignore any consequence to America

got all the exits covered I see...

Can always justify anything and everything, especially for those who fill the gilded chalice for executing success or catastrophe alike. Much like the government,
they must be soul mates, very romantic. To defend liberty at the expense of her body,
magical!

another star for you!

Amen

[edit on 1-4-2010 by Janky Red]

motherjones.com...

Wall Street bankers may seem like a pretty well-off bunch, but when they decide that a million dollars doesn't go as far as it used to, they leave and start up a hedge fund. Hedge fund managers typically get paid 2 percent of the value of the assets under their control plus 20 percent of the investment profits, and for a successful manager this can add up to tens or even hundreds of millions of dollars a year. Aside from market reversals, the only real threat to their riches is the IRS.

Blah, I couldn't care any less about the wealthy, coveting is not my style. And yeah, their little games can cost people their jobs, but a job is NOT a right (to think it is would place a demand upon someone else to create that job for you). Just forget about these clowns. Mind your own business, stop coveting what everyone else has, do your own thing, work for yourself, save for your own retirement yourself, buy your own health insurance for yourself, and just keep plugging away improving your own situation on your own and just leave everyone else alone. You know, through little hard work and perseverance, and some self-restraint/control and some smart decisions, you too could end up wealthy, and then others can have a chance to whine and cry about how greedy you apparently are now too, ha. I'm starting to think we should rename this nation to be called the United States of Coveters. Or how about the United States of Crybabies. I mean, what next? "Whaaaa, the rich dudes have beautiful wives, make them share that with meeeeeeeee!" lol .. pitiful ..

reply to post by drew hempel


But, hedge funds make capital gains on investments and not income from selling products or services. They invest in various markets and are taxed on their investment returns in the same way that you or I are. Successful investments in stocks and bonds are capital gains. It's not some cheap trick. It's capital gains for you too, and taxed as such. What do you propose, that we tax investment returns as capital gains(which they are) for everyone who doesn't make very much money from them? And then tax the people who do it on a large scale in some new way that targets them expressly because they are successful at what they are doing?

Janky Red:

... and ignore any consequence to America

Do you have any investments? Do you think that if your investments did well, that would be a "concequence to Amercia" that the government should work to prevent? Hedge funds invest in legal markets in legal ways. Successful investments don't hurt the country. They make money based on what happens, they don't direct companies to fail, or cause people to default on their mortgages. When people make money on the stock market they aren't hurting you. Why do you care?

reply to post by David9176


I'll take 50% of 1 billion as a bonus for losing other peoples money.

How do I apply for such a job?




[edit on 1-4-2010 by mnemeth1]

Originally posted by OnceReturned
reply to post by drew hempel

 

Janky Red:

... and ignore any consequence to America

Do you have any investments? Do you think that if your investments did well, that would be a "concequence to Amercia" that the government should work to prevent? Hedge funds invest in legal markets in legal ways. Successful investments don't hurt the country. They make money based on what happens, they don't direct companies to fail, or cause people to default on their mortgages. When people make money on the stock market they aren't hurting you. Why do you care?

I care because this Elite industry loans and trades non existent money and I disagree successful investments based up non tangible funds and debt does indeed hurt this country IMO. The thing that hurts America the most is that the most rewarding thing one can do is manipulate binary code to create wealth in place of hard work.
Nowadays, hard work is a fools game and you seem to know it don't you?

reply to post by David9176


I find it difficult to criticize people for becoming wealthy or wealthier as long as their doing it legally.

IMO, they took a gamble and it paid off big time. It is not their fault that the tax liabilities are in their favor.

Congress set the limit(loophole) and as early as february of last year, Obama talked about closing this loophole. Yet, neither Congress nor Congress took serious action.

Levin has several times sponsored a bill to change the tax treatment of investment income earned by private equity, hedge funds and certain other managers. Currently the income is treated as a dividend income, taxed about approximately 15 percent.

Advocates argue that is a huge tax break for the wealthy managers, and their income should face an ordinary tax rate. The top tax rate is now 35 percent.

The bill, backed by President Barack Obama, has passed the House three times but meets fierce lobbying by industry and has never progressed in the Senate, where it faces opposition from some Democrats and most Republicans.

www.reuters.com...