top 20 private equity and hedge fund managers pocketed an average of $657.5 million–22,225 times the pay of an average worker.

Wednesday, August 29, 2007 by The Nation | Confronting the CEO Pay Gap | by Katrina Vanden Heuvel

The staggering gap between CEOs and workers is, at long last, getting some attention in Campaign ‘08. But there’s still more to be done to tackle the gap. If candidates really want to turn up the heat with some well-documented, explosive facts, I’d advise them to check out the invaluable report released today by the Institute for Policy Studies and United for a Fair Economy.

I’d like to hear Senator Hillary Clinton make a stink about how the top 20 private equity and hedge fund managers pocketed an average of $657.5 million–22,225 times the pay of an average worker. I’d like to see candidates tackle the gross inequities in an economy in which the 20 highest paid figures in the private equity and hedge fund industry collected 3,315 times more in average annual compensation in 2006 than the top 20 officials of the federal government’s executive branch–and that includes Bush and Cheney (when he’ll cop to being part of that branch).

And while they deploy these heart-wrenching stats, I’d like to hear all of the candidates blast Senator Chuck Schumer for betraying the best traditions of the Democratic party by refusing to increase taxes on those fabulously rich hedgers and equity guys.) ...