May 23, 2011
I’m writing because my family and I were affected by the economic collapse of 2008. My nation and I can't afford it to happen again.
Wall Street greed and outrageous pay practices are a major cause of the national economic collapse. If we take note of the pay and bonus compensation on Wall Street, it seems hard to believe that most Americans are still struggling. To change the incentives so they don’t drive practices that risk the national economy again, we should delay the bonuses and closely scrutinize compensation agreements for several years. Taxpayers deserve to know that the loans they made at the beginning are still regarded in good faith by the financial titans whose interests were served. Bankers must not reward themselves on the volume of loans (mortgages) they generate, without caring for the quality of the agreements. May the taxpayers never find themselves funding such a bailout again.
Thank you for considering my comment,
Geoffrey Fernow