Hillary Clinton is not letting up on her criticism of hedge fund managers. In a speech in Iowa on Monday, Clinton lamented that “the deck is still stacked in favor of those at the top,” including hedge fund managers and chief executives at major corporations.
“In fact,” she continued, addressing a group of campaign supporters at a house party, “I heard a statistic the other day that really made a big impact on me. The top 25 hedge fund managers together make more money than all the kindergarten teachers in America.”
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“The issue comes down to whether we’ve dropped a hot dog stand or a lemonade stand into a business that is primarily publicly traded stocks, cash and other wonderful things that I call appreciated property,” said Isaac Zimbalist, a senior technician reviewer at the Internal Revenue Service, whose Tuesday comments spooked some investors worried that a change in the agency’s approach to spinoffs could halt Yahoo’s request to exit from Alibaba. In followup comments, Zimbalist clarified that he wasn’t referring specifically to Yahoo’s deal.
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“Go do something different,” was the advice for students seeking financial world internships from Fortress Investment Group’s Michael Novogratz on Wall Street Week Sunday. “Get on a motorcycle and travel through India and take photographs. Create a story where you learn something...I’m a big fan of the gap year.”
