From Who Rules America...

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mobius's picture
mobius
Status: Silver Member (Offline)
Joined: May 18 2009
Posts: 160
From Who Rules America...

A good read, but this caught my eye

The Upper Half of the Top 1%...

 

Recently, I spoke with a younger client who retired from a major investment bank in her early thirties, net worth around $8M. We can estimate that she had to earn somewhere around twice that, or $14M-$16M, in order to keep $8M after taxes and live well along the way, an impressive accomplishment by such an early age. Since I knew she held a critical view of investment banking, I asked if her colleagues talked about or understood how much damage was created in the broader economy from their activities. Her answer was that no one talks about it in public but almost all understood and were unbelievably cynical, hoping to exit the system when they became rich enough.

http:/sociology.ucsc.edu/whorulesamerica/power/investment_manager.html/

2OLD4OKEYDOKE's picture
2OLD4OKEYDOKE
Status: Bronze Member (Offline)
Joined: Mar 28 2011
Posts: 72
thanks to Mobius, and here's some others

Thanks for sharing a great catch!

Here's a blog that I like --

http://news.silverseek.com/SilverSeek/

Recent article by Theodore Butler of great interest, on implications of the MF Global scandal --

http://news.silverseek.com/SilverSeek/1321022610.php

Another blog that I like is David Cay Johnston's Reuters blog -- here's a recent sample of how this guy doesn't pull punches, writing on the sorry history of audit failures --

http://blogs.reuters.com/david-cay-johnston/2011/11/11/a-history-of-audi...

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