Obama Supporter Soros Raking In Profits From Housing Crisis
From Sweetness and Light
Sphere: Related ContentCrumbling home prices and $100 oil helped Wall Street’s Highest Earners pull in $19 billion last year.Problems paying the mortgage, filling the gas tank and feeding the family have eroded living standards for millions of Americans during the past several months.
Not so for people who manage big piles of money–many of them made a fortune betting correctly on the housing debacle and rising commodity prices last year.Our second annual look at the pay of folks who run hedge and private equity funds shows that the top 20 took home a collective $18.7 billion last year, 43% more than in 2006.
To even make the list you needed minimum earnings of $350 million, which is $90 million higher than the year before. No chief executive of a traditional Wall Street investment bank even came close…For hedge fund billionaires Pickens and second-ranked George Soros ($2.4 billion), whose own investments compose a significant portion of their funds, there’s more to be made from asset appreciation than from fees. Soros made $2 billion from the growth of personal investments within his $17 billion Quantum Endowment Fund, which returned 32% for the year…
continue reading… Soros 2nd Biggest Profiteer In Housing Crisis
(via LGF Links)
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