May 24, 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.HOW MANY OF THE CONGRESS PEOPLE AND CEO'S ON WALL STREET HAVE HAD TO LIVE ON THE SAME AMOUNT OF INCOME FOR TWO YEARS WHILE THE PRICE OF FOOD HEATING, GASOLINE, AND HEALTH CARE HAS RISEN? THE GREED IN THIS COUNTRY IS DISGUSTING. THEY WANT PEOPLE TO CONTINUE TO CONSUME, BUT WITHOUT ANY INCOME TO CONSUME WITH. THIS IS REALLY STUPID THINKING
Wall Street greed and outrageous pay practices were a major cause of the collapse. One way to change the incentives so they don't collapse our economy again would be to delay the bonuses for three, five or more years. That way, we'll know if the loans they made in year one remain good. In the bad days, bankers paid themselves on the volume of loans (mortgages) they generated, not on their quality.
Thank you for considering my comment,
Marcia Migdal