May 30, 2011
I and my relatives have been adversely impacted by the economic collapse of 2008. Like many in my baby-boom generation, I have no defined benefits but depend on my 401K and IRA savings to last through my remaining years.
While the economy has made some recovery, I fear lack of reform may cause another collapse.
Wall Street 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 several years, e.g. five or more, to reduce the incentive to put short term gains above long-term risk.
Thank you for receiving my comment,
John Gau
Worcester, MA