September 24, 2013
I’m writing in support of a strong Dodd-Frank rule 953(b).
Disclosing corporate pay ratios between CEOs and average employees will discourage the outrageous and reckless pay practices that fueled the 2008 crash.
I am aware that you are under intense pressure by business interests to weaken or abandon the rule. Do not give in. Instead, weigh your duty to protect investors and the American public against the self-serving interests of those seeking to undermine this rule.
IN ACTUALITY, learning to deal with SHAME could be very valuable for corporate CEOs, after all, corporations have in the past produced products that damaged people's health (cigarettes, asbestos, saccharine, etc.), they have made a mess of the environment (Prince William Sound, the Gulf of Mexico, the Appalachian ex-Mountains, fracking), they have manufactured agricultural chemicals that have driven our honey bees toward extinction (neonicotinoids), they have crashed the economy by securitizing mortgages, rating them in a fraudulent way and selling them to unaware investors. SO they have a LOT to be ashamed of, and the sooner they learn to deal with SHAME, the better off they will be!
Thank you for considering my comment,
Jeffrey Panciera
Seattle, WA