Wall Street's Top Earners: Your Pain, Their Gain

[winbig]

What a joke....

Families are having a hard time paying the mortgage, but yet most of these people are making a fortune off of people losing their homes.

Wall Street's Top Earners: Your Pain, Their Gain
Peter J. Schwartz 04.15.08, 5:50 PM ET

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In Pictures: Wall Street's 20 Top Earners



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 came even close.

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[RobWin]

What a joke....

Families are having a hard time paying the mortgage, but yet most of these people are making a fortune off of people losing their homes.

You do not have permission to view link Log in or register now.

"many of them made a fortune betting correctly on the housing debacle"

That part of the equation needs further investigation IMO...could have possibly been part of the cause...markets can float in either direction based on what these guys recommend and advise...