May 19, 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. When I think of the incompetence of Chris Cox and the SEC, I grit my teeth and polish my pitchfork. Yes, i am stupid enough to have invested in both the Tech stocks and then the housing market, but it is the job of the SEC to keep the playing field viable. Shareholders got robbed, and you know it.
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.
Thank you for considering my comment,
Dolores Welty