Yesterday on Levine Breaking News this came over the wire to my amazement. Here is a successful US hedge fund trader who is admitting that others in his industry are over-privileged “idiots”.
SO LONG, SUCKERS. MILLIONAIRE HEDGE FUND BOSS THANKS ‘IDIOT’ TRADERS AND RETIRES AT 37: The boss of a successful US hedge fund has quit the industry with an extraordinary farewell letter dismissing his rivals as over-privileged “idiots” and thanking “stupid” traders for making him rich. Andrew Lahde’s $80m Los Angeles-based firm Lahde Capital Management in Los Angeles made a huge return last year by betting against sub-prime mortgages. Yesterday the 37-year-old told his clients that he had hated the business and had only been in it for the money. And after declaring he would no longer manage money for other people, because he had enough of his own, Lahde said that instead he intended to repair his stress-damaged health; he made it clear he would not miss the financial world. “The low-hanging fruit, i.e., idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking,” he wrote. “These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government,” he said.
What amazes me is that the US Government has appointed the likes of Henry Paulson and others to oversee the restoration of the very system that they caused to collapse. Not only was he required to sell his half-billion dollars in Goldman stock near the high, but also, as Treasury Secretary, he was exempt from capital-gains taxes. Richard Fuld, the disgraced head of Lehman Brothers, will keep millions of dollars whereas their investors will lose their life savings. Where is the justice in this? Why is our own government turning to the very men who made the greatest mess of our financial system in modern times? More and more sane, balanced and sensible men and women are beginning to whisper that word that they never would have in the past: conspiracy.
For my money there seems to be the possibility of a revolution in this country. It’s the ‘Nero fiddled while Rome burned’ kind of reign of terror gestating. And while the “I’m not going to take it anymore’ crowd rattle their sabers and threaten to take to the streets, why don’t we get rid of Sean Hannity and Bill O’Reilly and Rush Limbaugh by turning them off-silencing them by denying them an audience-and indict Karl Rove, Ed Rollins, Roger Ailes and the whole kit and caboodle in the current Bush Administration.
Oprah, if you want to have a show about one honest man left in the financial markets, bring Andrew Lahde to “O” and let him tell the truth-the whole truth and nothing but the truth about where and when the collapse of the global financial markets started and let him offer a few suggestions about how to stabilize and become a system of integrity and trust.
Listen to Margaret Wendt and Albert on Spiritual Truths as they discuss this and other provocative and spiritually correct, but politically-incorrect subjects of interest to you and to your family and friends.
