May 26, 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.
Incentivizing risky behavior for personal gain that puts innocent people in jeopardy is like encouraging drunk drivers to get behind the wheel of a big truck. It is outrageous! There must be firm regulations and vigilant policing of behavior that affects everyone's safety
Thank you for considering my comment,
Thomas Taylor
Los Angeles, CA