Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Thursday, May 12, 2016

The Top 25 Hedge Fund Managers Earned $13 Billion in 2015

As many companies lost billions of dollars or closed last year, the world’s top 25 hedge fund managers earned a total of $13 billion—more than the entire economies of Namibia, the Bahamas or Nicaragua.

The Guardian reports:

    Kenneth Griffin, founder and chief executive of Citadel, and James Simons, founder and chairman of Renaissance Technologies, shared the top spot, taking home $1.7bn each – equivalent to the annual salaries of 112,000 people taking home the US federal minimum wage of $15,080.

    The earnings of the best-performing hedge fund managers, published by Institutional Investor’s Alpha magazine on Tuesday, dwarfs the pay of top Wall Street executives who have been under fire for their multimillion-dollar pay deals. The best paid banker last year was JPMorgan Chase CEO Jamie Dimon, who collected $27m. …

    Both men have poured a lot of money into the presidential race, but both backed Republicans who dropped out. Griffin, who is the richest man in Illinois with a $7.5bn fortune according to Forbes, has donated more than $3m into the failed campaigns of Marco Rubio, Jeb Bush and Scott Walker.

    Griffin, 47, who started from his dorm at Harvard University, was the biggest single donor to Rahm Emanuel’s successful campaign for a second term as mayor of Chicago.

Original Article
Source: truthdig.com/
Author:   Alexander Reed Kelly
Topics: ,

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