Authored by Soren K. Group for Marketslant
Ray Dalio, Owner of the worlds largest hedge fund, Bridgewater Associates located in CT, made $1 billion last year. This is down from the $5 billion he made the year before.
from Matt Levine's Money Stuff
The state of Connecticut has been hit hard by the double whammy of a deteriorating local economy, coupled with a plunge in hedge fund profits - as well as hedge fund managers permanently relocating to Florida - leading to a collapse in tax revenues. According to the the latest Connecticut budget released last week, the state is reeling from the consequences of sliding tax revenue from the super-rich, i.e. the state's hedge fund managers. The latest figures showed that tax revenue from the state’s top 100 highest-paying taxpayers declined 45% from 2015 to 2016.
Connecticut could become the first US state to allow police to use drones equipped with deadly weapons if a bill opposed by civil libertarians becomes law. The bill, which was approved overwhelmingly by the state legislature's judiciary committee on Wednesday, would ban so-called weaponized drones in the state but exempts police and other agencies involved in law enforcement, the AP reported. The legislation was introduced as a complete ban on weaponized drones but just before the committee vote it was amended to exclude police from the restriction.
This is How States Will Take Your Pension
All emphasis ours
written by Soren K and MarketSlant
with contributions by Vince Lanci of Echobay.com
Are you watching closely CT, IL, NJ etc?
The table is now set for you to have your pension violated for the greater good. Are you paying attention? Someone is deciding that you must decrease your standard of living on behalf of someone else because the state of CT in its infinite ignorance messed up.
Back in September, before the much hoped for Trump "renaissance" of Wall Street, we presented two pictures that summarized the recent transformation of the US financial sector from a trader- to an algo-centric one.