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Tuesday, June 1, 2010
The top earning hedge funders got over $18 billion from their hedge funds in 2009. That works out to be a tad under a million an hour each. Elsewhere, 150,000 teachers will lose their jobs this year – largely because of the things these financial geniuses did to our economy. Under the financial reform legislation these poor hedgies will have to pay as much as 15% of their earnings in taxes. The teachers may be eligible for unemployment benefits.