Skip to comments.Top hedge fund bosses earn a record $28bn (Soros gets $3.3 billion)
Posted on 04/03/2010 6:13:31 PM PDT by Brugmansian
"The world may still be coming out of the Great Recession, but for the richest hedge fund managers, 2009 was the best year ever. And it couldn't have happened without the carnage of 2008," the magazine said.
Appaloosa Management chief David Tepper, who bet on the recovery of banks and the debt of bailed-out US insurer AIG, earned the biggest payouts with $US4 billion ($4.36 billion) in 2009, a record for the sector.
US financier George Soros, the head of Soros Fund Management, took the second spot with $US3.3 billion ($3.6 billion), followed by James Simmons of Renaissance Technologies with $US2.5 billion ($2.73 billion).
(Excerpt) Read more at heraldsun.com.au ...
IF the Manager’s contract calls for a % of Revenue as pay or bonus... and he meets that revenue...
GOD BLESS HIM... and good luck with the IRS
I’m all for a free market but many of these guys are manipulating the market. Those manipulations end up costing you and me a LOT of money.
“Appaloosa Management chief David Tepper, who bet on the recovery of banks”
Good bet, when you know McCain and Obama were going to bail out Goldman, JPMorgan, etc. Their earnings are laundered taxpayer dollars and debt.
Gosh, flashback to McCain and Limbaugh and similar panicking about the “nationalization of banks.” Useful idiots.
Agreed. The manipulation by hedge funds is well known. They are totally unregulated and are HUGE contributors to Dems.
Soros as Obama’s biggest supporter, wasn’t he?
This needs to be said at every turn. A talking point in every discussion.
I have no doubt that Soros will continue to finance that “fundamental transformation” until it has been completed, or loyal Americans throttle it.
The rich get richer in Obamaland. “:)
Only half of it came from fees to his marks, er, clients... ;’)
“Good bet, when you know McCain and Obama were going to bail out Goldman, JPMorgan, etc. Their earnings are laundered taxpayer dollars and debt.”
Easy to see that if the government is passing out $700M in TARP funds and the Fed is opening it’s discount window to the big boys (JPM, Goldman, etc) for trillions in interest free money that they’re going to make money, economic fundamentals be damned. It will be interesting to see what happens going forward though since I don’t think they’ll get away with it a second time so they better hope the economy really is recovering.
And just how much of that is Soros going to turn over to the socialist government he’s been bankrolling? I didn’t think so.
He can’t take it with him.
We’re all equal at some point.
The sooner he leaves, the better.
You won’t get any argument from me...
LOL. Right. :)
Soros #2 and Paulsn #4 are big time Left Wing activists. It appears that the majority of these hedge fund managers are left leaning. If so, that should put a stake in the heart of the canard that the big money men are all greedy Republicans. Actually, they are greedy Democrats.
Just think: If they had received insider info from their buddies in the White House, Soros et al would have made BILLIONS. Then they could have donated a big chunk to help their Leftists buddies in the White House.
And now you know why They own Us ...
58 years ago, Whittaker Chambers wrote in "Witness":
In the United States, the working class are Democrats. The middle class are Republicans. The upper class are Communists.
That needs to be updated a little. Government workers, those on government aid and those who buy into racial identity politics are Democrats. The middle class are Republicans. And the upper class are still communists.
Its definatly true. Read Creature from Jekyll -sland. The multi billiones fund and promote communism since they won’t be effected and will be able to control everyone.
Probably why Russian and Chinese communist took two different paths. The Russian people were plundered for decades and the money laundered in the west. The Soviet block never developed a large export economy because that would have led to autonomy—they couldn’t have kept it confined to favored people in the west . In China however, once the idealism wore off, the Chinese worked for themselves albeit in a fascistic economy.