May 23, 2011
I have read both the Financial Crisis Inquiry report of some 650 pages and the Lehman-Coburn Senate subcommittee report of over 650 pages and written articles on both of them.
It is clear that de-regulation resulted in setting loose the greed that lives within banksters hearts. No doubt remains that they deliberately caused this crash that has devastated not only the U.S. but the world economy. The evidence of their criminal wrong-doing is rampant. Many of them need to be arrested and held accountable under RICO and federal and state securities laws. The pathetic fines and penalties they have paid to date are not a deterrent. They are gangsters and thieves, nothing more or less.
They should not be rewarded for their successful criminal organizations. Compensation should be tied to what their workers make and return to a reasonable ratio e.g. twice or three times what a worker makes. Compensation should be tied to long-term stability and growth, not short term profit and risk.
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. This will determine if their policies were for short term gain or long term stability.
Thank you for considering my comment,
Dianne Post