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. As a stll working senior, I saw my IRA account cut by 50%. I did not get a golden parachute when my "business" failed. After years of the downturn, my IRA is still not where it was. Can you imagine if these still unprosecuted criminals had been stopped BEFORE the meltdown? Maybe at 70, I would not still be working.
Knowing which corporations heap riches upon their executives while squeezing struggling employees also will be a useful factor for me when considering which businesses to support with my consumer and investment dollars.
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. Most of these people trying desperately to stop portions of the new law are the very same people, reincarnated, who caused our meltdown in the first place. Why am I left holding the "bag" while they are making millions, once again.
Thank you for considering my comment,
Hellen Hoffman
Lake Worth, FL