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How to Make a Million Dollars an Hour: Why Hedge Funds Get Away with Siphoning Off America's Wealth

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How to Make a Million Dollars an Hour: Why Hedge Funds Get Away with Siphoning Off America's Wealth Cover

ISBN13: 9781118239247
ISBN10: 1118239245
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Synopses & Reviews

Publisher Comments:

Praise for The Looting of America

"A cogent, clear, and compelling explanation of how Wall Street's Big Casino wrecked the economy. I might not agree with all of his provocative proposals, but so what? This book is a fun read, despite the sickening scenario it describes."

—Jonathan Alter, senior editor and columnist at Newsweek

"An insightful analysis of how we got 'hit.' It is packed with data and background information and explores the pros and cons of the options before us, from those 'Wall Street won't like' to those 'Wall Street really won't like.'"

—John Perkins, author of Confessions of an Economic Hit Man

"Les Leopold has performed a virtuoso service by explaining the economic mess in terms that ordinary people can grasp, in this wonderful and terrifying book."

—Robert Kuttner, coeditor of The American Prospect

"A welcome parry to the mass media refrain that only the most highly trained Wall Street professionals can comprehend these financial instruments."

—Library Journal

"Les Leopold's account of the economic crisis is the clearest and most accessible that I have seen. It gives a reader with little economics or financial background a riveting description of how Wall Street tore down our economy and what we can do about it. It's a page-turner we all should read."

—Leo Gerard, international president of the United Steelworkers

"I loved this book. A worm's-eye dissection of the Wall Street crisis from a very sharp and very knowledgeable labor economist. Here's hoping that before the Washington consensus gets set in stone, policymakers will read it and reflect on the havoc the masters of the universe have wreaked on ordinary people."

—Charles Morris, author of The Trillion Dollar Meltdown

"Les Leopold tells the story of our economic collapse so clearly, so broadly, so stylishly I didn't get lost; in fact, to my great surprise, I kept going and going like Hansel and Gretel through the thick forest of mortgage finance, credit swaps, bubbles, and bailouts. The Looting of America is a guided tour for people who wonder if the ups and downs of a free market are inevitable, or if we can't make a few changes for a smoother ride."

—Robert Krulwich, cohost of NPR's Radio Lab

Review:

"As the average American struggles to keep up with the costs of basic necessities, top hedge fund managers earn 20,000 times more per year than the average pediatrician. Leopold (The Looting of America) is fired up about this gross inequality. While some readers may find his impassioned claims sensational, he meticulously cites reputable sources and fuels the reader's fire at the same time. He cites annual and hourly income for the mega-rich such as Oprah Winfrey, Steven Spielberg, and Elton John, whose fortunes pale in comparison to top hedge-fund managers, some of whom earn millions of dollars per hour. Leopold offers a sardonic list of dos and don'ts for wannabe hedge fund managers such as 'Don't worry if wealth gushes to the top. That's just more money for your casinos.' Despite the hoopla, Leopold offers insight into the barely regulated realm that controls much of the country's wealth, describing such methods as jumping ahead of average investors' trades to buy securities before average investors do, and then sell to these same investors at a higher price. Unfortunately, Leopold doesn't provide many suggestions on how the system can be changed to create a more balanced playing field." Publishers Weekly Copyright PWxyz, LLC. All rights reserved.

Synopsis:

How hedge funds make money by taking it from the rest of us—and how you can join them!

Top hedge fund managers make more than Oprah, Rupert Murdoch, and A-Rod combined—but they aren't running news and entertainment empires or playing baseball for the New York Yankees. Aren't you curious about how these hedge fund dudes make so much doing who knows what? You may even wonder if you can get there, too. After all, this is America!

This book gives you the answers in a twelve-step guide to accumulating vast riches the way hedge fund managers do—by playing trillion-dollar poker with a marked deck. Through each easy step, you'll learn the sleight of hand and disregard for basic morality you'll need to move from making tens of dollars an hour to millions an hour! Along the way, you'll also question whether these hedge fund moguls make markets work better—as they and their apologists insist—or cause instability, siphon off capital, and destroy value without adding so much as a single widget to the economy.

  • Takes a fascinating tour of the wild side of fantasy finance to explain just how hedge fund managers make so much money—and whether or not the million-an-hour crowd produces anything positive for society and the economy
  • Teaches you hedge fund secrets that make it possible to pull down astounding sums in the space of minutes—from rigging your bets to milking millions in special tax breaks—if you're willing to bankrupt your morality for the cash
  • Counters many of the most common arguments about why speculating in financial markets is somehow "worth more" than creating entertainment, electronics, or consumer goods that consumers want
  • Written by Les Leopold, the popular AlterNet writer and author of The Looting of America

Synopsis:

How long would it take you to make a million dollars? If your answer is "More than an hour," you're in the wrong line of work. In How to Make a Million Dollars an Hour, you'll discover how to make it to the top of the Forbes list without founding a major corporation, making People's most beautiful list, or even playing for the New York Yankees. All you have to do is become a hedge-fund manager.

In no time, with the help of this ultimate guide, you can understand how these lucky Americans started making more money than Oprah, A-Rod, and Rupert Murdoch combined. After three decades of increasing productivity, stagnating wages, and soaring profits, not to mention all those jobs that disappeared in the financial meltdown of 2008, there is plenty of money floating around with no place to go but into your pocket. All it takes is convincing a few very rich people that you can make them even richer.

You'll learn how to play the game like these masters of speculation:

  • Create something they can pretend is low risk and high return
  • Place risky bets using other people's money
  • Bet on the race after they know who won
  • Rip off entire countries (because that's where the really big money is)
  • Milk millions more in special tax breaks
  • Claim that limits on speculation will kill jobs

Yes, some of this might sound a bit unsavory, perhaps even immoral, but would you care if you were making a million dollars an hour doing it?

On the other hand, you might suspect that hedge funds do nothing but siphon off money that could be put to better use, and that they may actually undermine our economy and our democracy. Perhaps you fear that some hedge funds may be investing in illegal activities, such as arms smuggling, or that they may drive up energy and food prices through speculation. If so, How to Make a Million Dollars an Hour answers all of your questions and many more that you hadn't thought to ask. It offers a rare glimpse behind the golden veil, where you'll discover hedge-fund secrets that make it possible to pull down astounding sums in the space of minutes—as long as you're willing to bankrupt your morality for the cash.

About the Author

LES LEOPOLD is the executive director of the Labor Institute and Public Health Institute in New York and one of the most popular writers for the progressive website AlterNet. He is also the author of The Looting of America: How Wall Street's Game of Fantasy Finance Destroyed Our Jobs, Pensions, and Prosperity—and What We Can Do about It.

Table of Contents

Introduction 1

Step 1 Reach for the Stars—and Beyond 5

Step 2 Take, Don’t Make 25

Step 3 Rip Off Entire Countries Because That’s Where the Money Is 48

Step 4 Use Other People’s Money 62

Step 5 Create Something You Can Pretend Is Low Risk and High Return 78

Step 6 Rig Your Bets 97

Step 7 Don’t Say Anything Remotely Truthful 113

Step 8 Have the Right People Whispering in Your Ear 136

Step 9 Bet on the Race after You Know Who Wins 159

Step 10 Milk Millions in Special Tax Breaks 183

Step 11 Claim That Limits on Speculation Will Kill Jobs 204

Step 12 Distract the Dissenters 221

Conclusion 237

Acknowledgments 241

References 243

Index 251

What Our Readers Are Saying

Add a comment for a chance to win!
Average customer rating based on 1 comment:

Writers Voice host Francesca Rheannon, March 21, 2013 (view all comments by Writers Voice host Francesca Rheannon)
Wanna make a million bucks an hour? Some people make that and more -- hedge fund managers. The top manager earned $2.4 million per hour in 2010. How long would it take you to make that on your present rate of earnings? Probably decades. How do they do that? Where does all that money come from? It turns out much of the wealth sloshing around at the tippy top has actually come from the 99.9 percent below.

Les Leopold’s new book, How To Make A Million Dollars An Hour, reveals the links between the obscene levels of wealth made by hedge fund managers and such financial crises as the European sovereign debt crisis and the mortgage meltdown. He shows how hedge funds bet against investors and won, beggaring people, school districts, unions and municipal governments -- all so some people can pull down millions of dollars per hour. The book is a great read: you'll laugh -- and cry!
Was this comment helpful? | Yes | No
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Product Details

ISBN:
9781118239247
Author:
Leopold, Les
Publisher:
John Wiley & Sons
Author:
Leopold, L.
Subject:
World
Subject:
World history
Subject:
World History-General
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
Economic Conditions
Subject:
Public Policy Economics & Finance
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wal
Subject:
l street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial crisis, global financial crisis
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Subject:
hedge fund, private equity, wall street, Robert scheer, republicans, capitalism, Thom Hartmann, middle class, David Cay Johnston, Matt Taibbi, Naomi Klein, Paul Krugman, hedge funds, hedge fund manager, hedge fund managers, financial crisis, us financial
Copyright:
Edition Description:
Hardcover
Publication Date:
20130521
Binding:
HARDCOVER
Language:
English
Pages:
272
Dimensions:
9.49 x 6.37 x 0.92 in

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How to Make a Million Dollars an Hour: Why Hedge Funds Get Away with Siphoning Off America's Wealth Used Hardcover
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Product details 272 pages John Wiley & Sons - English 9781118239247 Reviews:
"Publishers Weekly Review" by , "As the average American struggles to keep up with the costs of basic necessities, top hedge fund managers earn 20,000 times more per year than the average pediatrician. Leopold (The Looting of America) is fired up about this gross inequality. While some readers may find his impassioned claims sensational, he meticulously cites reputable sources and fuels the reader's fire at the same time. He cites annual and hourly income for the mega-rich such as Oprah Winfrey, Steven Spielberg, and Elton John, whose fortunes pale in comparison to top hedge-fund managers, some of whom earn millions of dollars per hour. Leopold offers a sardonic list of dos and don'ts for wannabe hedge fund managers such as 'Don't worry if wealth gushes to the top. That's just more money for your casinos.' Despite the hoopla, Leopold offers insight into the barely regulated realm that controls much of the country's wealth, describing such methods as jumping ahead of average investors' trades to buy securities before average investors do, and then sell to these same investors at a higher price. Unfortunately, Leopold doesn't provide many suggestions on how the system can be changed to create a more balanced playing field." Publishers Weekly Copyright PWxyz, LLC. All rights reserved.
"Synopsis" by , How hedge funds make money by taking it from the rest of us—and how you can join them!

Top hedge fund managers make more than Oprah, Rupert Murdoch, and A-Rod combined—but they aren't running news and entertainment empires or playing baseball for the New York Yankees. Aren't you curious about how these hedge fund dudes make so much doing who knows what? You may even wonder if you can get there, too. After all, this is America!

This book gives you the answers in a twelve-step guide to accumulating vast riches the way hedge fund managers do—by playing trillion-dollar poker with a marked deck. Through each easy step, you'll learn the sleight of hand and disregard for basic morality you'll need to move from making tens of dollars an hour to millions an hour! Along the way, you'll also question whether these hedge fund moguls make markets work better—as they and their apologists insist—or cause instability, siphon off capital, and destroy value without adding so much as a single widget to the economy.

  • Takes a fascinating tour of the wild side of fantasy finance to explain just how hedge fund managers make so much money—and whether or not the million-an-hour crowd produces anything positive for society and the economy
  • Teaches you hedge fund secrets that make it possible to pull down astounding sums in the space of minutes—from rigging your bets to milking millions in special tax breaks—if you're willing to bankrupt your morality for the cash
  • Counters many of the most common arguments about why speculating in financial markets is somehow "worth more" than creating entertainment, electronics, or consumer goods that consumers want
  • Written by Les Leopold, the popular AlterNet writer and author of The Looting of America

"Synopsis" by , How long would it take you to make a million dollars? If your answer is "More than an hour," you're in the wrong line of work. In How to Make a Million Dollars an Hour, you'll discover how to make it to the top of the Forbes list without founding a major corporation, making People's most beautiful list, or even playing for the New York Yankees. All you have to do is become a hedge-fund manager.

In no time, with the help of this ultimate guide, you can understand how these lucky Americans started making more money than Oprah, A-Rod, and Rupert Murdoch combined. After three decades of increasing productivity, stagnating wages, and soaring profits, not to mention all those jobs that disappeared in the financial meltdown of 2008, there is plenty of money floating around with no place to go but into your pocket. All it takes is convincing a few very rich people that you can make them even richer.

You'll learn how to play the game like these masters of speculation:

  • Create something they can pretend is low risk and high return
  • Place risky bets using other people's money
  • Bet on the race after they know who won
  • Rip off entire countries (because that's where the really big money is)
  • Milk millions more in special tax breaks
  • Claim that limits on speculation will kill jobs

Yes, some of this might sound a bit unsavory, perhaps even immoral, but would you care if you were making a million dollars an hour doing it?

On the other hand, you might suspect that hedge funds do nothing but siphon off money that could be put to better use, and that they may actually undermine our economy and our democracy. Perhaps you fear that some hedge funds may be investing in illegal activities, such as arms smuggling, or that they may drive up energy and food prices through speculation. If so, How to Make a Million Dollars an Hour answers all of your questions and many more that you hadn't thought to ask. It offers a rare glimpse behind the golden veil, where you'll discover hedge-fund secrets that make it possible to pull down astounding sums in the space of minutes—as long as you're willing to bankrupt your morality for the cash.

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