If incompetent Hedge-fund managers get 'golden goodbyes', why?

Question

don't ordinary people get a similar bung when they lose their jobs. 'One law for the rich' or what? Can't we tax those rich scoundrels somehow?

Answer 1

Ordinary people will never get outsized unordinary "golden goodbyes." If you don't have extraordinary insight, discipline, passion, or some sort of competitive advantage than your only hope is going willy wonka style and hoping for a golden ticket from the state lottery if you want something golden. There are 10,000 hedge funds and only 15% of those have any substantial level of assets under the management. The rest aren't getting any large golden goodbyes either. The advertising rules on hedge funds seems to make many people believe they are all very rich and very risky. If you want to learn more about hedge funds I have written 155 articles on the subject through my blog.

Here is a video explaining what they are: http://richard-wilson.blogspot.com/2007/11/what-is-hedge-fund.html

- Richard

Answer 2

who says they were incompetent?

hedge funds are plainly sold as very risky propositions to people who can absorb the risk and (finally) some of them got hit.

Seems normal to me.