'Astounding paychecks' Scrutinized by 'World News'
ABC âWorld News with Charles Gibsonâ fanned flames of class warfare with a story about the high incomes of hedge fund managers, leaving out how much these individuals must be paying in taxes or how much profit they had made for their investors.
âSome of them made a lot, I mean really a lot,â said anchor Charles Gibson before John Berman began his April 24 report.
âHedge fund managers make huge bets on stocks and commodities,â explained Berman before quoting a business school professor who said taking on such high risks âdeserve[s] high returns.â
For comparison, Berman said $14 billion is âenough to pay
But certainly these hedge fund managers are helping employ quite a few teachers with their tax payments, though viewers didnât hear how many because ABC didnât ask.
Instead ABC focused on the impossibility of trying to spend more than a billion dollars by interviewing a personal shopper about the price of sheets and a grocery store manager who said everything in the store would only cost about $2.6 million.
âIt turns out a billion dollars is hard to spend,â concluded Berman.
âIt does boggle doesnât it,â said Gibson ending the segment.
It is worth noting that left-wing political activist and donor George Soros ranked number four on the list at $950 million a year.