If you think chaos in Libya is the only force driving up gasoline prices these days, think again. Over the past few decades, institutional investors like hedge funds and investment banks have flooded oil markets with hundreds of billions of dollars.
JPMorgan feeds on our hunger with its lucrative food stamp card business. And AIG gets into the game of letting strangers bet on your life. Why shouldn't hedge funds make a little extra dough from the collapse of your hometown?
Yes, there is a connection between the hedge fund manager's magnificent 2010 haul and our 29 million unemployed. But it's not just John Paulson. It's the entire class of financial billionaires and their junior wannabes.
Mainstream economists claim that your income reflects the economic value you produce -- at least in free and open markets. So why do people in the financial sector make so much more money than the rest of us?