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. We worked hard and sacrificed during our earning years so we could have a good nest egg for our retirement years. That's not how it's playing out, and yet, the banking industry continues to reward its executives for irresponsible practices that affect not them but us.
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. Why should they end up with what we've worked so hard to accumulate over years of hard work?
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.
Thank you for considering my comment,
Kay Wiggins