May 19, 2011
I’m writing because my family and I are affected by the economic collapse of 2008 and its continuing consequences. The well-known collusion of the Federal Government with Wall Street and the financial industry to impoverish our citizens is unconscionable. Protection of those who manipulate the wealth of the United States for their own greedy and malevolent purposes is only one of the on-going travesties fostered by government agencies.
One way to regulate Wall Street and financial institutions so they can't collapse our economy again would be for government regulators to establish a claw-back for shareholders and investors from ill-gotten gains.
And if it turns out that profits in any given year were built on shoddy and/or corrupt business practices, the outrageous bonus payments to perpetrators should be forfeited with criminal prosecution.
These practices of course would require an honest, non-collusive Federal government where those who serve in it are NOT allowed after their service ends to accept jobs with the very financial institutions they are to be monitoring. As it is now, confidence by the citizenry in our governance is at its lowest point thanks to institutional and governmental malfeasance.
Thank you for considering my comments,
G McGuire