The Securities Industry and Financial Markets Association (SIFMA) sent an email out to members this morning, I post it herewith. Remember, this thing is going to happen. So if you do contact your senator or house member, please remind them that limiting executive compensation is a stupid political stunt. We’ll just get what we pay for – again. Why not just hire a bunch of morons to run these companies right off the bat? Then we can watch them get their faces ripped off by all the smart, well-paid people on the other side of the deal. What a ridiculous, pathetic mess.
IMMEDIATE ACTION ALERT
Dear Industry Member,
We urgently need your help. As you know, Congress and Treasury are working on a plan to restore market stability and increase credit availability for Main Street Americans. However, we are extremely concerned that the agreement on a compromise has stalled.
We need everyone to show support for this critically important legislation. Congress needs to hear from you today.
To call and e-mail your representatives visit www.senate.gov, and www.house.gov. Or, if these sites are non-responsive visit www.congress.org and look in the upper right hand side of the screen.
Please let your representatives know the following:
* We believe this legislation is critically important and should be enacted into law at the earliest possible time in order restore market stability and increase credit availability for Main Street Americans.
* Every day, working Americans rely on healthy credit markets for home loans, auto loans, student loans and other types of financing. These credit markets help support small businesses as well, which need cash flow to meet their payroll.
* Only the compromise on the Paulson-led plan will restore confidence, credit availability and market stability in a timely manner. None of the alternatives put forward would achieve these fundamental objectives.
* We understand the need for Congress to make changes in the original proposal so as to provide meaningful oversight and better protect the interests of taxpayers.
To hear more, please join me on a conference call at 1 PM EST, at 866-843-0890 or 866-450-8367, passcode 3597823.
Thank you for your immediate action contacting Congress.
Tim Ryan
President & CEO
SIFMA
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