How much money do the top 1% have? Especially these internet entrepreneurs and hedge fund managers (as opposed to the owners of established companies like Wal-Mart). What would be the effect if all of that money was flooded into the market? Eg if they all went on a buying spree. Would it lead to inflation? If so, how much?
In 1991, Congress passed legislation to try to keep Icahn from leaving the government on the hook for up to $900 million in TWA employee pensions. The bill allowed the government to seek unfunded pension liabilities from Icahn's other holdings, potentially bankrupting him. Stevens said he urged Icahn to set some money aside in a separate bank account to protect himself, but Icahn refused to do so. "My money is my army. I need my army around me," Icahn said, according to Stevens.