May 26, 2011
This country is in trouble economically.
Too many of our so-called representatives have been elected because of the contributions of those most responsible for the collapse.
We need to rein in the explosive growth of untenable compensation. If CEOs and the other "C"s were rewarded only based on long term results - and as a reasonable percentage of their average employee's pay - that would help.
Taking a global perspective shows that immense short-term and short-sided compensation is NOT necessary.
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.
Consider those who are struggling. I no longer live in California because I can no longer afford to. My son is working three jobs and my daughter is praying she'll have a job when she graduates.
Thank you for your consideration.
jody Bolton
Colorado, CA