May 28, 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.
One way to change the incentives so Wall Street doesn’t collapse our economy again would be for regulators to set up a way for shareholders to grab back ill-gotten gains.
If it turns out that the profits in a given year were built on shoddy practices that become clear in the out-years, those bonus payments should be forfeited.
By the way, after the Great Depression, usury laws went a long way to fix things. Since their final demise in the Regan years things have gone rapidly down the drain. How come no one is considering reinstating usury laws again?
Thank you for considering my comment,
Frank Svatek
Biddeford, ME