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A hedge fund manager speaks...

"The big lesson of the subprime crisis: that it's a mistake to lend money to poor people."

"Rich people know how to invest extra money. Poor people just squander it on necessities. That's why capitalism works so well: it keeps money out of the hands of people who don't know how to use it and directs it to people who know how to make it grow."

"Rich people should have a lot more political power than ordinary people. It's crazy that they have only the same measly vote as, say, one of the workers they might have to lay off in a restructuring. Giving workers this sort of equal time is counterproductive, especially for financial markets."

Is this guy for real, I hear you ask? Sadly not. It is in fact Michael Lewis of 'Liar's Poker' fame, adopting the role of a tough-talking hedgie for his regular Bloomberg column. More of the same here: 'A Wall Street Trader Learns Some Taxing Lessons'


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Paul Penrose

Paul Penrose

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06 Oct 2006



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