September 24, 2013
In our "democracy," big banks have received bailouts, for they've been seen as too big to fail and the CEO's who've done risky and even illegal things have been seen as too big to jail. Yet ordinary Americans have received little help when the big banks and investment firms engaged in such risky behavior that led to the 2008 crash.
Therefore, 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,
R.A. Frager
Canton, MA