May 19, 2011
I’m writing because my family and I were affected by the economic collapse of 2008, and we don’t want it to happen again. Everyone was and still is being affected, even if we kept our jobs and homes. We are still paying the high price and the political price for the folly of bankers and Wall streeters who are still making HUGE sums of money, hand over fist.
One way to change the incentives so Wall Street doesn’t collapse our economy again would be for regulators to set up a way for shareholders to grab back ill-gotten gains.
If it turns out that the profits in a given year were built on shoddy practices that become clear in the out-years, those bonus payments should be forfeited. Risky behavior is still being rewarded, so why would anyone stop? That is REGULATORS like you come in. Please, please do that job.
Thank you for considering my comment,
Sally Allison