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.
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. That way, we’ll know if the loans they made in year one remain good. In the bad days, bankers paid themselves on the volume of loans (mortgages) they generated, not on their quality. Please don't let the Wall Street "fat cats" get any fatter AND richer off the American people! Please don't let the Wall Street bankers reward themselves by, again, doing the VERY SAME THINGS that started the financial meltdown. Don't let them get away with it, PLEASE!!!
Thank you for considering my comment,
Cathy Moore
Washington, NC