Yeah, But They Really Needed That Billion

In 2009, the worst economic year for working people since the Great Depression, the top 25 hedge fund managers walked off with an average of $1 billion each. With the money those 25 people “earned,” we could have hired 658,000 entry level teachers. (They make about $38,000 a year, including benefits.) Those educators could have brought along over 13 million young people, assuming a class size of 20.

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3 Responses to “Yeah, But They Really Needed That Billion”

  1. Chris H Says:

    I have to say that after reading that link all I feel is anger and disillusionment. The injustice of it all!

  2. libhomo Says:

    And the right says that the market is rational when it isn’t regulated by the state.

  3. RickB Says:

    Well here we get to the nitty gritty, even Greenspan recanted his market fundamentalism for a moment, but none change their ways, so we see it never really was about the value of the theory, it gained prominence because if provided an even more effective way to accrue capital to the elite. But ‘it is that way so me and my ilk can be as rich as possible while people starve’ doesn’t scan so well so theories and universities and intellectuals must be employed to market it, launder it into something that can endlessly debated while the armed robbery continues.


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