United States hedge fund fat cats get fatter

Dear Kitty. Some blog

Hedge fund cartoonBy Andre Damon in the USA:

Massive payout for US hedge fund chiefs in 2014

6 May 2015

On Tuesday, Institutional Investor’s Alpha magazine revealed that the top-earning 25 hedge fund managers in the United States secured another massive payout last year, totaling $11.62 billion.

The hedge fund managers earned an average of $400 million apiece. This meant that they received some $200,000 per hour, assuming that they worked 40 hours per week. On average, they made more than 10,000 times the median household income in the United States.

In Detroit, the city administration is preparing to shut off water service to 28,000 residents in order to force the collection of $42 million in delinquent water bills. A typical member of the top-earning hedge fund managers could have paid this entire amount nine times over from their income this year.

The highest-earning hedge fund manager was Kenneth Griffin

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