September 24, 2013
I’m writing in support of a strong Dodd-Frank rule 953(b).
I am an investor. I have been harmed by excessive executive pay because it has had, several times, a severely negative impact on company, and stock, performance. Furthermore, I believe that the middle class is being squeezed out of existence by, among other things, executive greed and excessive executive compensation.
Further, I know that there is a direct connection between bad behavior, and being able to hide it in the dark. Conversely, in the light of day, people will not be as willing to try, nor will they be as able to get away with, reckless, unethical or questionable behavior. 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,
Arthur and Bonnie Gibert