May 23, 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. My business is making a fraction of what it was making before the crash. My mortgage is upside down. I have lost my equity. My business needs capital to survive but with no equity, I have no access to capital. Wall Street got bail-outs for crashing our economy. Main Street got the shaft. Its time they pay-up.
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.
Thank you for considering my comment,
Allen Lomax