May 24, 2011
Reports of Queen Elizabeth's historic visit to Ireland moved me to rejoice until my husband informed me that Ireland's sunny future was snatched away in the Great 2008 Recession engineered by Wall Street bankers. Our country is disgraced by a handfull of executives run amok, whose greed has ruined economies worldwide. I write in behalf of vicitims like the Irish as well as my husband and me. We were just beginning late retirement on meager savings and Social Security, which may no longer be adequate. We and the world need improvement asap.
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,
Mabel McElhaney