True, we should change bankruptcy law so hedge funds get priority over employees who worked their whole lives for a company. This will benefit all workers with pensions that invest in hedge funds.
... right after hedge fund "costs" are limited to a microscopic amount.
If you're going to treat private financial service organizations as if they are organized for public good (i.e. paying employee pensions), then they need to operate as such, rather than as wealth generators for their officers.
And don't come at me with "that keeps the incentives aligned - if the managers/officers make money, the hedge fund is making more money". I don't buy that the only way to get effective investment growth is by making the officers wealthy beyond all belief. Vanguard agrees with me.
... right after hedge fund "costs" are limited to a microscopic amount.
If you're going to treat private financial service organizations as if they are organized for public good (i.e. paying employee pensions), then they need to operate as such, rather than as wealth generators for their officers.
And don't come at me with "that keeps the incentives aligned - if the managers/officers make money, the hedge fund is making more money". I don't buy that the only way to get effective investment growth is by making the officers wealthy beyond all belief. Vanguard agrees with me.