Jay Gould - The Skunk of Wall Street

You might have read that the 25 top hedge fund managers made over 25 billion in 2009. Although I don’t earn enough money to pay an income tax, this is my understanding of how the high rollers did it. When the removal of Roosevelt’s government regulations permitted financial institutions to engage in fiscally unsound practices, after it made the people engaging in those unsound practices rich, their card houses collapsed. The stock of those financial institutions plummeted. When President Bush gave those institutions your tax dollars to save them from themselves, the people who got rich by causing the collapse quickly bought hundreds of millions of dollars of the depressed stock in those institutions. Because of the bailout, the value of the stock went up 400 percent or more and the top 25 people to profit made over 25 billion dollars. If you were to Google, “Jay Gould, the skunk of Wall...
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