Maybe it is because today is April Fools Day.
The Today Show had a segment this morning on compensation for hedge fund managers. The top 20 guys hauled in a total of $22.5 billion last year. That is their personal compensation, not the profits that they achieved for their firms. The highest-paid guy made more than $5 billion by playing the gold market. The segment showed their 30,000 SF homes in the Hamptons, their vacation homes, exotic vehicles, etc.
Fortunately, Congress chose not to increase their taxes from 35% to 38% because we can't overburden our "job creators". These hedge fund managers must employ a small army of willing workers to keep their estates and vehicles up to snuff.
The Today Show correspondent assured us that hedge funds are a crucial part of the capitalist system though it doesn't appear that they actually produce anything other than profits for themselves.
Meanwhile some poor soldier slogs through the mud in Afghanistan or Iraq to preserve and protect the American Way. Too bad that the people laying their lives on the line don't get the benefits. I guess it's April Fools on us.
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