May 26, 2011
I am a retired judge, and my wife and I lost much of our retirement savings when the bottom fell out of the U. S. economy in 2008.
A major factor in this catastrophe was the insatiable greed and outrageous compensation practices of Wall Street financial institutions and their employees.. I suggest that
(1) the amount of total compensation which corporations can deduct per employee, for tax purposes, be a maximum of $300,000, and that
(2) payment of bonuses be delayed for several years, say five or seven, so we can know whether loans made in year one are still good five or more years later.. Mere volume of loans generated should not be a sufficient basis for a bonus.
Respectfully,
Frank Morrow
Bellingham, WA