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Hillary Makes Hedge Funders Cry

Hillary Clinton's remarks on the stark difference between hedge funders' compensation and kindergarten teachers hit hedgies where it hurt.
Hillary Makes Hedge Funders Cry
Image from: DonkeyHotey

Hillary hurt hedgies' fee-fees this week and now they're stomping their little hooves, huffing and weeping like the WATBs they are.

What could Hillary possibly say that would make them so defensive? She just spoke the truth, just like Obama did this week. Simply put:

President Barack Obama called the group "society's lottery winners" last week, noting that the top 25 earning hedge fund managers made more in 2014 ($11.6 billion) than the roughly 158,000 kindergarten teachers in the U.S. did combined ($8.5 billion).

Presidential hopeful Hillary Clinton cited the same statistic in joining Obama's call for ending carried interest tax treatment, echoing what she said in her first campaign speech: there's "something wrong" when "hedge fund managers pay lower tax rates than nurses or the truckers."

CNBC has some monumentally idiotic (and anonymous) quotes from hedgies:

One prominent investor—who, like others, asked to remain anonymous given the divisive subject—called the rhetoric "class warfare" and noted other times in history, including before World War II, when financial speculators were unfairly blamed by politicians.

"Instead of the Jews, it's the hedge fund managers," the person said.

Oh, pulease. I can almost hear the tiny flea playing the tiny violin for him. But they were just warming up.

The "class warfare" critic said it was unfair for Clinton to criticize hedge fund managers for making more than teachers given that her son-in-law, Marc Mezvinsky, helps run one, and that she has made millions of dollars in paid speech fees.

"At least we take risk, create value, allocate capital, invest in distressed companies, invest in start-ups, provide liquidity to the market," the person said. "What does Hillary do? She jawbones. You can't tell me her speeches are creating any value."

He forgot the part where he mentioned how they tank the economy, cause people to lose their homes, their jobs, and their savings. Because you know, investing is hard work, amirite?

Watch the CNBC report:


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