May 26, 2011
As the vast majority of us are good citizens and accept being taxed upon our earnings to continue the necessary operations of this wonderful country reform must come to the easy money earnings on Wall Street too.
Place a small tax upon their instant windfalls and help Wall Street help the country that allows them to play such games with our money.
I’m writing because my family and I were affected by the economic collapse of 2008 as my retirement savings shrank thruogh Wall Street's reckless abuse. I am retired and my wife just had to sign on for another 5 years with her employer. When I retired in 2003 my savings looked to be substantial enough to live well. We Can’t let it happen again.
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.
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,
Fred Orth
Cincinnati, OH