September 24, 2013
Shame is one possible reason executives are trying desperately to kill a new requirement, mandated by the Dodd-Frank Wall Street reform law, that corporations disclose pay disparities between CEOs and average workers. Disclosing corporate pay disparities will discourage lavish CEO pay practices that reward recklessness and greed; that fueled the 2008 economic crash.
Rein in corporate recklessness. I support disclosure of corporate pay disparities. The multimillion-dollar payouts that some CEOs receive are thousands of times more than what most workers earn. I’m writing in support of a strong Dodd-Frank rule 953(b).
Disclosing corporate pay ratios between CEOs and average employees will discourage the outrageous and reckless pay practices that fueled the 2008 crash.
Knowing which corporations heap riches upon their executives while squeezing struggling employees also will be a useful factor for me when considering which businesses to support with my consumer and investment dollars.
I am aware that you are under intense pressure by business interests to weaken or abandon the rule. Do not give in. Instead, weigh your duty to protect investors and the American public against the self-serving interests of those seeking to undermine this rule.
Thank you for considering my comment,
Judith DiNardoStow, OH