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.
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.
Bankers should not get tax-free bonuses, and should not bonuses when they are bailed out by government taxpayer dollars. Bankers should pay at at least the same real tax rates as workers, tax loopholes should be eliminated. The corporations Bankers work for should also pay real taxes. It was reported that the CEO of Paulson & Co - John Paulson - paid NO taxes last year on personal income of $5 BILLION. THAT IS AN OUTRAGE!
Personally, I have had troubled getting reemployed after the crash because hiring has slowed way down.
Thank you for considering my comment,
Randall Parr
Appleton, ME