September 24, 2013
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.
One of the jobs of the CEO is to determine how the resources available to a corporation are used. Due to blind and ignorant greed that has been running rampant for the last 30-35 years, many CEOs have been coming to the selfish conclusion that more and more of the resources of a corporation should go to them personally while everyone else who worked towards accumulating the corporate resources gets a reduced share. This is simply naked greed because concentrating more and more wealth in the hands of fewer people has had very detrimental effects on our country, such as causing the middle class to disappear quickly.
Knowing which corporations heap riches upon their executives while squeezing struggling employees also will be a very useful factor for me when considering which businesses to support with my consumer and investment dollars. If someone's decision-making process is dominated by short-sighted, ignorant greed then I want to know about it so I don't invest in a company that is led by such a person!
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,
Brett Robert
Coral Springs, FL