Hedging disaster
The American Prospect
by Robert Kuttner
04/30/07
This past week, even jaded observers of Wall Street were startled to learn that last year’s top hedge fund manager, James Simons of Renaissance Technologies, made $1.7 billion in 2006. Alpha Magazine reported that the top 25 hedge fund earners garnered an average of $570 million in 2006, up from $362 million in 2005. The burgeoning hedge fund and private equity industries are both a cause and a symptom of a dangerously lopsided America. Because they are private (not listed on stock exchanges or offering shares to the public), these funds do not have to disclose their inner workings to regulators or to the public. Yet these unregulated funds are increasingly buying and selling some of our largest corporations, stripping assets, piling on debt, leaving employees and subsequent buyers to dig out of a deep hole...
http://www.prospect.org/web/view-web.ww?id=12734
http://freepage.twoday.net/search?q=Hedge+Funds
http://freepage.twoday.net/search?q=Robert+Kuttner
by Robert Kuttner
04/30/07
This past week, even jaded observers of Wall Street were startled to learn that last year’s top hedge fund manager, James Simons of Renaissance Technologies, made $1.7 billion in 2006. Alpha Magazine reported that the top 25 hedge fund earners garnered an average of $570 million in 2006, up from $362 million in 2005. The burgeoning hedge fund and private equity industries are both a cause and a symptom of a dangerously lopsided America. Because they are private (not listed on stock exchanges or offering shares to the public), these funds do not have to disclose their inner workings to regulators or to the public. Yet these unregulated funds are increasingly buying and selling some of our largest corporations, stripping assets, piling on debt, leaving employees and subsequent buyers to dig out of a deep hole...
http://www.prospect.org/web/view-web.ww?id=12734
http://freepage.twoday.net/search?q=Hedge+Funds
http://freepage.twoday.net/search?q=Robert+Kuttner
rudkla - 1. Mai, 17:52
