Around tax time, Absolute Return magazine publishes a list of Wall Street's biggest winners of the year. This year, while most of America continues to battle a financial recession and 9.5 percent of the workforce remains actively unemployed, the nation's top hedge fund managers took home staggering sums of money. Louise Story, finance reporter for our partner The New York Times tells us why and how these managers make billions each year.
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The show is a co-production of WNYC Radio and Public Radio International, in collaboration with New York Times Radio and WGBH Boston.
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Comments [2]
Sounds like the fictional characters in The Gods of Greenwich.
Why doesn't someone take a look at who pays these fees to Hedge Funds?
You will find a whopping proportion of it comes from Public Pension Plans. So as current events squeeze the benefits paid to public workers, public pension plans mangers may bizarre payments to a tiny elite.
What a world.
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