May 27, 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.
Executive compensation in all industries, including banking, should track the average compensation of all employees in the company. In 1980 CEOs in the US were paid 40 times the average worker. In 2009 they were paid 344 times more. The trend has continued. Compensation plans need to correct this disparity and then maintain proportion.
Thank you for considering my comment,
Mary Blom
Sebastopol, CA