It’s not just Lord Ashcroft’s bulldozing of the prime minister. Hedge-fund antics in the US show the wealthy take payback to a higher level

What happens when very, very rich men hate each other? Why, they get revenge, of course. They long to show the world the blood of their victims dripping off their chins. And then they expect to be congratulated on how dashing and daring they are. This week, super-wealthy hedge fund manager David Tepper got some serious payback on his former Goldman Sachs boss, Jon Corzine. After Corzine passed him over for promotion in the 1990s, Tepper seethed for 20 years while building up his own staggeringly lucrative career, then gloatingly spotted that Corzine had lost his £31m mega-house in Long Island, New York, in a divorce. He bought it from the ex-wife, bulldozed it and built something even pricier and uglier in its place. “I guess you could say that there is a little justice in the world,” Tepper purred with smugness.

Related: Cameron faces fresh questions over knowledge of Ashcroft tax status

Continue reading…
Source: Guardian Environment