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.
Wall Street greed and outrageous pay practices were a major cause of the collapse. One way to change the incentives so they don’t collapse our economy again would be to delay the bonuses for three, five or more years. That way, we’ll know if the loans they made in year one remain good. In the bad days, bankers paid themselves on the volume of loans (mortgages) they generated, not on their quality.
I'm tired of the mistakes made by Wall Street affecting the average citizen's retirement fund. I'm tired of worker being pitted against worker when neither is responisble. Public employees have become the enemy and are made to shoulder the financial burden when the price should be paid on the backs of the ruthless bankers.
Thank you for considering my comment,
Lisa Marrin