And The Rich Keep Getting Richer?

[REWahoo]

Floridians Lose Millions in Hedge Fund

MIAMI - Dozens of wealthy investors were scammed out of $160 million by three self-proclaimed hedge fund operators who set up flashy offices in Palm Beach County, took their money and ran, federal investigators said.

http://news.yahoo.com/s/ap/20050813/ap_on_re_us/hedge_fund_collapse

REW

 

[wabmester]

I think standard hedge fund fees are around 2% of assets + 20% of any profits, so I'm having trouble understanding what makes these guys any more crooked than other hedge fund managers.

 

[justin]

I think standard hedge fund fees are around 2% of assets + 20% of any profits, so I'm having trouble understanding what makes these guys any more crooked than other hedge fund managers.

simple. These guys took 98% more assets and 80% more profits.

 

[Nords]

simple.  These guys took 98% more assets and 80% more profits. 

Yeah, but if they'd had a long-term approach they could have taken it ALL, and legally to boot!