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Although I've never taken to political activism before, current crisis has awakened the need to speak up this time; so here is my message to Dodd & my Congressmen. I offer it solely in the hope that it may motivate some to voice your own opinion. I hold little hope of it being read and even less for suggestions to be taken, but felt it was duty to myself, friends, and loved ones to send anyway.
First, you have my prayers as you face this monumental task of enacting emergency legislation to save our country's and possibly the world's financial system. This may well be the most important decision of your lives which will surely impact generations.
I fully support the need for our government to intervene in this crisis to purge the toxic debt for our financial system. Nonetheless, the responsibility for putting our country in this precarious position lies with the CEOs, CFOs, and Board of Directors who may irresponsible choices and devestating decisions even as most officers for thousands of other companies exercised prudence and responsibility to their stakeholders.
I suggest that any company holding toxic debt should be given the opportunity to purge this from their books, with 3 simple conditions:
1. The CEO, CFO, and Board of Directors must immediately resign their positions and face a lifetime ban from holding such a position in any other publicly held company.
2. Likewise, they must be prohibited from taking ANY lobbying position.
3. The companies shall be prohibited from pay any severence benefits to the officers of the company, including prior negoitiated separatiion benefits. These people should be expected to voluntarily suspend the contractual rights in exchange for qualifying for this treatment.
Athough I'm sure many of these people acted with good intent, they are nonetheless the cause of this crisis and we must assure that they are NEVER in a position to cause this damage again.
Again, may God be with you as you work to pull our country out of this abyss.
First, you have my prayers as you face this monumental task of enacting emergency legislation to save our country's and possibly the world's financial system. This may well be the most important decision of your lives which will surely impact generations.
I fully support the need for our government to intervene in this crisis to purge the toxic debt for our financial system. Nonetheless, the responsibility for putting our country in this precarious position lies with the CEOs, CFOs, and Board of Directors who may irresponsible choices and devestating decisions even as most officers for thousands of other companies exercised prudence and responsibility to their stakeholders.
I suggest that any company holding toxic debt should be given the opportunity to purge this from their books, with 3 simple conditions:
1. The CEO, CFO, and Board of Directors must immediately resign their positions and face a lifetime ban from holding such a position in any other publicly held company.
2. Likewise, they must be prohibited from taking ANY lobbying position.
3. The companies shall be prohibited from pay any severence benefits to the officers of the company, including prior negoitiated separatiion benefits. These people should be expected to voluntarily suspend the contractual rights in exchange for qualifying for this treatment.
Athough I'm sure many of these people acted with good intent, they are nonetheless the cause of this crisis and we must assure that they are NEVER in a position to cause this damage again.
Again, may God be with you as you work to pull our country out of this abyss.
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