<a href='Greetings,
We’ve all watched as Wall Street executives responsible forthe biggesteconomic crash since the Great Depression walked away with billions of dollars in bonuses withoutany accountability for the long-term consequences of their actions.
Write the regulators and let themknow bigbanks should be prohibited frompayingtheir executives in ways that encourage short-termrisktakingwith no long-termaccountability.
The top ten executives at Bear Stearns and Lehmann Brothers– the twofailedfirms that first triggered the economic crisis of 2008 – got $2.4 billion in total stock optionsand bonuses between 2000 and 2008. That’s $240 million per person, and none of themhad to payany of it back. Executives at other firms, from AIG to Goldman Sachs, also earned billions of dollars in bonuses without any accountability for the long-termconsequencesof their actions. This lack of accountability in executive pay has created a Wall Street culture hooked on short-term risk. That culture was a key contributorto the financialcrisis.
In the Dodd-Frank Wall Street Reform Act, Congress empowered regulators to address this outrageous situation. Now regulators have taken the firststeps. But their rule still isn’t tough enough. Take action by telling regulators to make their rule stronger!
Sincerely,
Americans for Financial Reform
Sent by Americans forFinancialReform 1629 K Street NW, 10th Floor,Washington,DC20006- (202)466-3311'>Greetings,
We’ve all watched as Wall Street executives responsible forthe biggesteconomic crash since the Great Depression walked away with billions of dollars in bonuses withoutany accountability for the long-term consequences of their actions.
Write the regulators and let themknow bigbanks should be prohibited frompayingtheir executives in ways that encourage short-termrisktakingwith no long-termaccountability.
The top ten executives at Bear Stearns and Lehmann Brothers– the twofailedfirms that first triggered the economic crisis of 2008 – got $2.4 billion in total stock optionsand bonuses between 2000 and 2008. That’s $240 million per person, and none of themhad to payany of it back. Executives at other firms, from AIG to Goldman Sachs, also earned billions of dollars in bonuses without any accountability for the long-termconsequencesof their actions. This lack of accountability in executive pay has created a Wall Street culture hooked on short-term risk. That culture was a key contributorto the financialcrisis.
In the Dodd-Frank Wall Street Reform Act, Congress empowered regulators to address this outrageous situation. Now regulators have taken the firststeps. But their rule still isn’t tough enough. Take action by telling regulators to make their rule stronger!
Sincerely,
Americans for Financial Reform
Sent by Americans forFinancialReform 1629 K Street NW, 10th Floor,Washington,DC20006- (202)466-3311</a>
