May 26, 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. I am a Senior and there are thousands, maybe millions of us who lost our savings, our 401Ks, our investments and even our houses because Wall Street got too greedy. Regulations MUST be established and accountability made paramount so this will not happen again. Clearly Wall Street and their minions will NOT police themselves!
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,
Sandra McDowell
Cape Coral, FL