May 26, 2011
I’m writing because the economic collapse of 2008,was a result of lack of regulation and rtoo many rewards for those who created the problems we need to solve. They will not be solved by bending to corporate lobbyists for banks and other financial instiitutions who want to continue business as usual. 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.
Thank you for considering my comment,
Noalani Terry