Thursday, August 20, 2009

Pension Plans’ Private-Equity Cash Depleted as Profits Shrink

Yet guys like Steve Schwarzman, who runs Blackstone (BX) takes home $700 million in pay after delivering these huge losses to investors!!

Why are these losers held up to such adulation and thought of in such high esteem?

And why Obama has done back flips to sustain Wall Street in its current form?

These are important questions, the answers to which appear irrational, at least judging from the fact that much of this is still going on!

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