I heard on a TV news show last week that each of the top 10 hedge fund managers in the U.S. took home more than $1 billion in compensation last year. I couldn’t believe it and decided to check out the facts for myself. The TV show got it wrong – according to The New York Times, it was the top 25 managers who “earned” more than a billion dollars each.
$1 billion dollars. Per Annum. That’s $2.74 million per day. In a country where the poverty rate has hit more than 14% and official unemployment is almost at 10% (but, in reality, higher than that.)
Where is the outrage?